The top dozen investment banks from the U.S. and Europe are better focused but losing revenue to regional rivals
Big U.S. and European banks have dropped the ball in Asian investment banking—but that could be a good thing.
Asia has long been seen as the next big market for the world’s megabanks. And indeed, it is. Fees for arranging debt and equity sales, making loans and advising on mergers and acquisitions has grown strongly since the end of 2014. Yet the biggest Western players as a group have gone backwards.