| LONDON, April 4
LONDON, April 4 Global investment banking fees
reached a 10-year high in the first quarter of 2017 with more
than half of the $24 billion in total takings coming from North
America, Thomson Reuters data showed on Tuesday.
The rebound in fees to pre-crisis highs will be good news
for global advisors who complain they are being squeezed by
regulatory requirements amid competition from boutique players.
Wall Street banks took the top five places last quarter, led
by JP Morgan which earned $1.7 billion in fees, followed
by Goldman Sachs with $1.5 billion.
Fees from equity issuance almost doubled although bonds were
the biggest contributor to fees globally. Mergers and
acquisitions (M&A) was the only sector not to improve on last
year's dismal first quarter, with fees falling 2.5 percent in
the first three months of this year.
Uncertainty surrounding Britain's exit from the European
Union, the election in the Netherlands and upcoming polls in
France and Germany dampened European activity but fees still
rose almost 20 percent last quarter.
The biggest fee payer was U.S. telecoms operator Charter
Communications which has been exploring a tie-up with
Verizon and has issued a series of bonds.
Investment banking fees generated by financial sponsors and
their portfolio companies increased by 50 percent on a year
earlier to $2.7 billion for the first quarter of 2017.
Fees paid by private equity giant Blackstone more
than tripled to $230 million.
(Reporting by Dasha Afanasieva; Editing by Susan Fenton)