Investment banking fees plunge

Global investment banking fees in the third quarter fell to their lowest since early 2009, according to data from Thomson Reuters and Freeman Consulting. Investment banking fees in Europe so far in 2012 have fallen to levels not seen in ten years. Globally, the drop has been driven by a fall in share sale activity, with equity capital markets fees tumbling 31 per cent to $9.6bn so far this year, the slowest period since 2003.