2010 Awards for excellence: Best Emerging markets M&A house
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2010 Awards for excellence: Best Emerging markets M&A house

Building a global emerging markets M&A business is not easy. But Goldman’s roster of mandates shows its new local bank/global network strategy is reaping rewards.

Awards for Excellence 2010
Best Emerging markets M&A house: Goldman Sachs
Also nominated: Credit Suisse and Morgan Stanley

The pace of growth in M&A in the emerging markets far outstrips that in the developed world. Between 2003 and 2009 the compound annual growth rate in M&A volumes in the developed world was 5.6%, according to Credit Suisse. In the emerging markets it was 25%.

In 2003, deals where the acquirer was based in Asia, Latin America, central and eastern Europe, the Middle East or Africa accounted for only 9% of global M&A volumes. The figure was 21% in 2009 and is likely to be higher this year. Mergers and acquisitions involving a government-sponsored entity, corporate or financial institution in the developing world accounted for one-third of global activity in the first quarter of the year, according to Thomson Reuters, compared with 18% for the same period the previous year.

Such rapid growth means that no bank with pretensions to be a leading global M&A adviser can afford to ignore these markets.

Building an emerging markets strategy is not easy, however.

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