UBS and Credit Suisse Just About Manage to Stay in Focus in Asia: The major Swiss banks show some strength at the end of the year in Asia Pacific M&A and equities but are clear no-shows in bonds. UBS CreditSuisse investmentbankingfees
With the last of 2022’s regional league tables starting to trickle in, it is looking like Credit Suisse put in a strong M&A showing towards the end of the year, with UBS doing much the same in equity issues.
That was achieved on the back of 36 deals corresponding to an 8.2 percent market share and a 37 percent year-on-year increase in deal value.The country’s largest institution, UBS, overtook five other investment banks to make 5th in regional equity and equity-linked issues when Japan is excluded. That meant 53 issues and a market share of 3.7 percent.
An interesting thing to note here is that Moelis & Co, the institution founded and run by former UBS investment banking head Ken Moelis, jumped to 10th in the M&A category, up from 36th a year earlier.Both Swiss banks did not make the top ten in bond issuance, where Citic continued to lead a list dominated by China’s major banks. The same held true for investment banking fees.
Although that doesn’t necessarily correlate with more direct fixed-income issuance, some experts are saying that many variables are playing in favor of bonds. Any sign that central banks are close to ending the current tightening cycle, along with easier inflation, is likely to ensure continued attention to opportunities in global fixed-income, likely to the detriment of other asset classes, including equities.
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