Asia Watch: M&A Doom and Gloom … and, er, Boom
Goldman Sachs, the investment bank, plans a downsizing of nearly a third of its investment banking talent in Asia to get rid of approx 100 of its 300 staff, according to Reuters.
GS plans reducing the number of bankers it currently has working on M&A deals. Jobs cuts are falling disproportionately on Hong Kong, Singapore and China.
The total value of M&A deals across the Asia-Pacific region has dropped to $572.9 billion so far this year, from $745.7 billion in the same period of 2015, according to Thomson Reuters data… Goldman Sachs cutting nearly 30% of Asia investment banking jobs
thumbnail courtesy of cnbc.com
In other Asian M&A news, the Indian Economic Times reports that M&A activity is at an all time high with M&A deals in August 2016 worth $ 2.5 billion, a 300% year-on-year increase.
The surge in deal value was largely on account of big ticket deals, said the Grant Thornton report.Banking and financial sector led the deal activity contributing over 30 per cent of total deal value driven by the USD 777 million HDFC Life’s merge .. Read more here