Volumes for cross-border merger and acquisition (M&A) deals so far this year are down by almost a third from 2012 levels, making this the slowest year to date for international transactions since 2009, according to Thomson Reuters data.
Despite the period since the start of 2013 including deals such as the US$19.3bn merger of publishers Publicis Groupe and Omnicom Group, which lifted announced cross-border volumes to US$384 billion in 2013, according to the data, the volumes are still 31% lower than at the same period last year.
Morgan Stanley and Goldman Sachs head the advisor league table, with just over US$103bn of cross-border work each, with JP Morgan third at US$65bn.
However after a subdued first half, in which continued fears over the eurozone crisis and the potential effect of spending cuts on the US economy subdued deal making, last month showed a revival. According to Thomson Reuters’ data, global M&A activity in July totalled US$237.3bn, the strongest figure for the month since the $352.7bn recorded in July 2008.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.