Goldman feels the heat in Asia as IPO engine slows

Goldman feels the heat in Asia as IPO engine slows
 

Goldman Sachs (GS.N) failed to make it to the upper echelon of Asia's equity market fee earners for the first time in more than a decade, hit by a squeeze in fees that is prompting the U.S. bank to cut back jobs in the region.
Goldman has shared dominance of the Asia Pacific equity capital market arena with UBS (UBSG.S) and Morgan Stanley (MS.N) since clinching the mandate for China's first privatisation in 1997.
But increased competition from Chinese rivals and a dearth of the blockbuster deals it has previously relied on to make money in Asia are putting pressure on global investment... read more

 
30 September 2016 in Business, Views: 41
Source: Reuters
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