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.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Opinion

That was the year that was

Bankers are nothing if not excellent at spinning events to their advantage: 2018 was no exception…

MB banner 660px


“ Well, that was great, wasn’t it? Yes, there was the geopolitics – trade and protectionism, Brexit, Italy, Russia, China, France (a late addition that one and somewhat surprisingly, perhaps, as it turned out that an investment banker would not seek to govern as a man of the people) – and every region and every time zone had its own events driving markets and sentiment.

And always in the frame, tiny-handed Trump and his Twitter-finger.

But no matter. The US was in growth mode. Employment looked rosy. The dollar repatriation amnesty was adding another cylinder to the engine. Equity markets were robust, companies and lenders were flush with liquidity.

Boardrooms – the savvy ones – knew that with great share price strength came great responsibility, to show growth organically or through acquisitions. If not, your equity was liable to be rerated before too long.

Sponsors, finding themselves head-to-head with the strategic bid more often than not, had to catch up. Activism, continuing to jump the Atlantic to rise in Europe as never before, added another frisson.

And so it played out in the data: global announced M&A at record levels.



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