The comparisons with US peers just got a lot harder for European banks after a strong showing from JP Morgan to kick off earnings season. But could there be fresh revenue on the way for European investment banks, even if it is of their own making? There’s a mooted capital raising for Deutsche Bank before any possible consolidation with Commerzbank. Meanwhile, Italian lender UniCredit is waiting in the wings to bid for the latter if merger talks fail, let alone any other rivals which might jump on the bandwagon. However, European banks have found themselves wedged into the same category as basic resources were back in 2015: uninvestable. Read more: Unicredit preparing rival Commerzbank bid if Deutsche Bank talks break down Recently, the European Central Bank folded and conceded that its current hand of cards meant no chance of hiking its benchmark interest rate for the foreseeable future, delivering a dose of realism. The loser wasn’t the central bank’s ultra-dovish … [Read more...] about Can European banks be saved by mergers and a fresh round of deal making?
Mergers and acquisitions
0 Post a comment Saturday, 23 March 2019 - Business There has been a big growth in merger and acquisition deals, law firm Appleby says. The latest edition of Offshore-i, an Appleby report that provides data on merger and acquisition activity in the offshore financial centres, focuses on 2018. While the total number of deals dipped when compared to 2017, value was up significantly.The Isle of Man, specifically, recorded 43 deals in 2018 worth $2.3 billion.The Cayman Islands led the way in total deal value in 2018, with three transactions featured in the offshore region’s 10 biggest deals. Cayman was also the busiest jurisdiction for offshore deals, recording 867. It was followed by Hong Kong (709 deals), the British Virgin Islands (504 deals) and Bermuda (307 deals). Add Comment … [Read more...] about Big growth in mergers and acquisitions
Trump, tariffs and trade wars: the geopolitical three Ts currently dominating news cycles worldwide are yet to have an impact on M&A activity here. “Overall our perspective is that geopolitical issues have had limited impact on M&A activity levels so far,” says Anya Cummins, partner, mergers & acquisitions in Deloitte. Deloitte’s most recent annual global survey, published in the US, has just been released and indicates general optimism amongst dealmakers, private equity and corporate buyers, with a general expectation of strong M&A activity levels in 2019. “Uncertainty definitely impacts in specific sectors. Risk mitigation and strategic decision making are strong factors driving activity levels. As a result, a heavier emphasis on traditional customer base expansion, geographic diversification and investment in new products and services may be seen as drivers of activity, rather than pure technology plays. Overall we see activity levels … [Read more...] about Global upheaval has had little impact on mergers and acquisitions activity
Grant Thornton International reported record revenues of £5.45bn (£4.28bn), lifted by income expansion from international mergers, and strong growth in its tax and advisory arms. The figure is up $450m on last year, representing an average growth of 9.4 per cent across the whole organisation – slightly behind the 10.7 per cent global growth at BDO, one of its chief mid-market rivals. Peter Bodin, chief executive of the professional services firm’s international network, headquartered in the UK, said: “Our success this year is the result of a deliberate strategic focus on our core mid-market client base, and our key strategic growth markets where we want to be successful. “Being clear on where we need to develop our capabilities, and focusing on quality in those core markets, has underpinned this performance.” Read more: Audit sector faces huge shake-up as new reports make radical recommendations Strong mergers and acquisitions activity … [Read more...] about Merger growth drives Grant Thornton International to record £4.3bn revenues
Who’s switching jobs? Novidea Novidea, the data-driven platform provider for the insurance industry, has announced that Ben Potts has joined the company as UK managing director, to spearhead the company's growth and expansion across the UK and EMEA region. Previously, Ben held various leadership and revenue-focused executive roles with Majesco, Xchanging and Jardine Lloyd Thompson (JLT). Ben brings more than 15 years of broad insurance industry knowledge, operations, sales and customer service expertise to Novidea, with a deep understanding of the Commercial, London Market, Global Speciality and Delegated Authority Business sectors. With full responsibility for Novidea’s new London office and UK operations, Ben will play a key role in advancing the company’s ambitious expansion plans for the region, as well as sharing his expertise and knowledge with our rapidly growing customer base. Unily British technology company Unily has announced that it has strengthened its … [Read more...] about City Moves for 9 January – who’s switching jobs at Novidea, Unily and Hunton Andrews Kurth?