Investment banking, now it’s the old economy
The landscape of investment banking world seems to be completely changed in about 12 months. Last year, the telecoms and technology companies promptly upset the world market through continuous mergers and acquisitions, monopolizing the attention of major investment banks. But now there was a handover between the new and old economy: the new business that dominate the M & A business and traditional “old”, such as the energy sector. And if last year were Goldman Sachs and Morgan Stanley banks number one and two in Europe in M & A, the first 6 months of 2001 show the dominance of Dresdner Kleinwort and Merrill Lynch.