Did the crisis shake up the M&A industry?
At one point, it looked like the financial crisis would really lead to a new order on Wall Street. But as the big banks return to prosperity it seems like we're back to business as usual. Which some will view as a good thing.
Certainly, there has been no shake-up regarding the top players in mergers and acquisitions. Financial News notes that the top five has remained relatively the same over the last five years--with Morgan Stanley (MS), Goldman Sachs (GS), Citigroup (C), Bank of America Merrill Lynch (BAC) and JPMorgan (JPM) taking the top spots every year. So it would appear that corporate relationships are somewhat sticky and that large companies really have few options when it comes to their financing needs.
The only drama really is whether Morgan Stanley, which wrested the top spot from Goldman Sachs in 2009, can hang onto the top position in 2010.
For more:
- here's the article
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