Banks are generally paid a percentage of the deal size, and, per Dealogic's statistics, Goldman's average fee per deal in the first quarter was $11 million. In other words, last quarter's league table debate did not reflect on Goldman so much as the types of deals coming to market. When those deals begin to flow through the pipeline this year, this person said, the bank will have little trouble maintaining its grip on the M&A crown. And the return of mega deals - usually those over $10 billion - is part of his winning strategy.Ī person familiar with Feldgoise's thinking told Insider that Goldman thrives when competing for the largest transactions. Goldman, which has topped annual advisory rankings for two decades running, was dealt a further blow when it was forced to share the M&A crown with crosstown rival JPMorgan last quarter, according to competing industry trackers.īut over at 200 West Street, Goldman's cohead of mergers and acquisitions, Stephan Feldgoise, is making it known that he doesn't expect to share the crown for long, Insider has learned. Industry-wide M&A volumes fell by more than 40% between January and March of this year compared to 2022, per data provider Dealogic.Īt Goldman Sachs, as at other Wall Street firms, this has meant fewer of the fees that the bank raked in during the pandemic. It's been a tough road in 2023 for the Wall Street banks that specialize in advising on mergers and acquisitions. 1 spot as big deals come back.ĭon't count out this M&A heavyweight yet. But Goldman Sachs' cohead of M&A sees the bank maintaining its No.Goldman was forced to share its M&A crown with JPMorgan last quarter.An industry-wide deals drought has cratered investment banking fees.Account icon An icon in the shape of a person's head and shoulders.
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