Economics
Deutsche Bank Sees Brexit Hit Amid Investment Bank Rebuild
- Bank says U.K. decision will weigh on investment bank fees
- Deutsche Bank expects to increase its share of ‘fee pie’
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Britain’s decision to leave the European Union will probably curtail finance industry revenue, including in investment banking, as companies worried about the economic aftermath are likely to hold off takeovers and share sales, according to Deutsche Bank AG.
“The external market environment has deteriorated for everyone” since the June 23 referendum, said Alasdair Warren, who leads the company’s corporate and investment banking unit in Europe, the Middle East and Africa. “No one in financial services benefits. The consequence is a smaller fee pool.”