By Gordon Platt, Global Finance Magazine
The global economic slowdown and regional political turmoil are casting a pall over investment banking in the Middle East. As there's no change in sight, bankers in the region may be in for another challenging year.
Overall investment-banking fees in the Middle East declined to $407 million last year, the lowest since 2004, according to Thomson Reuters. Advisory fees on mergers and acquisitions, which were paid primarily to international banks, fell 37% from 2010. Debt capital market fees slumped by 66%.