US investment banks have been eating away at European businesses’ market share on their home turf since the financial crisis. In a bumper year for mergers and acquisitions fees in Europe, US investment banks had a 54.2% slice of the pie in 2018, according to data provider Dealogic, with European banks taking 41.4%. This is widest gap since the turn of the century.

“European investment banks lag their US rivals in both performance and pay, and the difference is getting larger,” said Alan Johnson, founder and chief executive of Johnson Associates, a remuneration consultancy.

Financial News / February 4, 2019