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January, 18, 2016 | 12:20 | Dubai
HSBC earned the most investment banking fees in the Middle East during full year 2015, a total of $62.9 million for a 9.9% share of the total fee pool and up 2.1 wallet share points compared to a year ago, according to estimates from Thomson Reuters / Freeman Consulting.
HSBC also topped the completed M&A fee rankings, while Nomura was first for Debt Capital Markets (DCM) underwriting. EFG Hermes took the top spot for Equity Capital Markets (ECM) underwriting fees in the region with 15.5% share. Mitsubishi UFJ Financial Group took the top spot in the Middle Eastern syndicated loans fee ranking with $18.2 million in fees for 6.5% of the market.
Overall, Middle Eastern investment banking fees reached $636.4 million during full year 2015, 16% less than the value recorded during full year 2014 and the lowest annual period for investment banking fees in the region since 2012.
However, the value of announced M&A transactions with any Middle Eastern involvement reached $56.2 billion during full year 2015, 13% more than the value registered during the same period in 2014 and marking the best annual period since 2008.
“Middle Eastern equity and equity-related issuance totalled US$5.7 billion during the full year 2015, a 50% decline from full year 2014 and the slowest annual period for equity capital markets issuance in the region in two years. Middle Eastern debt issuance reached US$6.2 billion during the fourth quarter of 2015, a significant increase compared to the value raised during the previous quarter,” Nadim Najjar, Managing Director, MENA, Thomson Reuters, said.