M&A Fees Jump 18%

Debt and equity markets may be dying, but M&A is thriving, particularly in Brazil, and investment banks are making serious money. The latest numbers from Dealogic show an 18% increase in disclosed M&A advisory fees, to $359m in the year to mid-August, from $304m in the corresponding period of 2007. Credit Suisse has grabbed the lead, with a hefty $80m in fees so far, some 22% of the LatAm M&A pool. This is a 123% improvement versus last year’s $35m and almost 13% more than the shop made in the entire 12 months of 2007. Citi meanwhile has dropped to second place, with $64m, down 24% on 2007. Rothschild has leapt to third, with $31m in fees, and the next four places are taken, respectively, by: UBS, Goldman Sachs, JPMorgan and Morgan Stanley. M&A market participants expect another banner year from LatAm in 2008.