UBS, ANZ, Goldman Sachs top investment banking fee league tables for Australian sector

UBS, ANZ, Goldman Sachs top investment banking fee league tables for Australian sector

At Macquarie Crew, the bankers led by way of Tim Joyce and John Pickhaver (who’s quickly to transport to New York to supervise the crowd’s power and infrastructure unit) had been in fourth spot with $US131.1 million.

Subsequent at the record had been JPMorgan and Westpac with about $US119 million each and every, CBA at $US118 million, adopted by way of NAB, Morgan Stanley and Financial institution of The us rounding out the highest 10.

UBS, ANZ, Goldman Sachs top investment banking fee league tables for Australian sector

New arrivals Barrenjoey and Jarden, in addition to outdated timers Citi and RBC Capital Markets, didn’t make Refinitiv’s the highest 10 for funding banking charges however figured within the most sensible 10 for M&A.

Barrenjoey, sponsored by way of Barclays, was once the highest funding financial institution for introduced offers, touching 30 in keeping with cent of offers.

Refinitiv’s numbers had been calculated to December 21. Deal bulletins since similar to Skip Capital and Stonepeak Companions taking flight their $735 million bid for Goldman Sachs-advised Genex Energy would have a marginal impact on banks’ charges.

Underlining how contested league tables and the technique at the back of them may also be, rival information research supplier Dealogic mentioned charges for Australian funding banks in 2022 got here at $US2.2 billion, about 26 in keeping with cent decrease.

Refinitiv and Dealogic each put UBS Australia, led by way of Anthony Sweetman (left) and Nick Hughes, on most sensible of the funding banking rate league desk for 2022. Ryan Stuart

Dealogic places UBS Australia’s rate earnings $20 million upper at $US196 million, and provides Barclays/Barrenjoey the 5th spot with $US102 million.

Irrespective of which information company’s numbers are used, it’s onerous to disclaim that the shake-out within the native scene, sparked by way of the arriving of Barrenjoey and rival upstart financial institution Jarden, has left some status quo banks’ marketplace positions weaker than ahead of.

Debt offers, M&A finishing touch charges save the day

The field’s talent to stay the autumn in charges to ten in keeping with cent, regardless of the stoop in M&A, is in large part right down to the remaining of giant offers that had been initiated in 2021 and a pick-up in debt raisings.

As an example, telecommunications towers trade Axicom started searching for a purchaser in 2021 however signed a maintain AustralianSuper and Singtel in April, spelling league desk credit for sell-side adviser Macquarie and buy-side adviser Jefferies for this yr.

Banks earned about $US678 million in underwriting charges from debt capital markets [DCM] offers in 2022, up 32 in keeping with cent from 2021. Australian bond issuers raised $US160 billion – up 6.3 in keeping with cent from remaining yr.

DCM bankers have Australia’s monetary establishments to thank for the lion’s percentage of industrial. Monetary products and services firms made up 69 in keeping with cent of 2022’s deal waft (as opposed to 29 in keeping with cent in 2021), as banks starved of inexpensive investment as soon as once more began to print bonds. The banks have been getting reasonable debt from the Reserve Financial institution’s time period investment facility, however the emergency pandemic debt car closed to new drawdowns in June.

Nationwide Australia Financial institution’s $US4.75 billion transaction in america bond marketplace in January was once the most important deal by way of a neighborhood financial institution this yr. The Commonwealth Financial institution of Australia’s $US4.5 billion lift in March was once the following largest at a time when banks sought to lift capital forward of rate of interest hikes later this yr.

NAB additionally ended the yr because the lead underwriter in DCM, with nearly 12 in keeping with cent of the pockets percentage. The financial institution switched puts with remaining yr’s chief Westpac, which garnered 9.3 in keeping with cent of 2022’s DCM pockets. CBA and ANZ got here in at 3 and 4, respectively, mirroring remaining yr, whilst world companies UBS, Citi, JPMorgan, Financial institution of The us, HSBC and Deutsche Financial institution, respectively, rounded out the highest 10 underwriters in DCM.

The similar grouping made up remaining yr’s league desk leaders, however JPMorgan moved from quantity 10 in 2021 to seven this yr, changing Deutsche Financial institution, which moved to ten from 7th position.

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