The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

UBS M&A revenues up on landmark deals

Global M&A volume was up 39% to $1.4 trillion in the first half of the year. However, revenues only increased 13%, further evidence of the fact that M&A advisory is not the guaranteed meal ticket it used to be.

According to first-half data by Dealogic, UBS increased its global advisory revenues the most over the period, with realized fees from deals announced or completed up by 50% during the first six months of 2005. It also advised on the two biggest deals of the first half of the year. It was sole adviser to MBNA on its $35 billion announced takeover by Bank of America and was also joint adviser with Gillette on its $56.8 billion deal by Procter & Gamble. Lehman Brothers, KPMG and ABN Amro posted the biggest percentage decline in revenues over the same period (see table). Morgan Stanley reported the smallest percentage revenue gain out of the top-ranked players.

However, according to Dealogic, Morgan Stanley also has one of the biggest global backlogs of fees pending from transactions announced over the past two years. The estimated deal value is $585 billion.

Ranking volume – announced deals
First half 2005
Advisor $ billion Deals 1H 2004 rank Adviser $ billion Deals 1H 2004 rank
Morgan Stanley 367.3

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree