Annual investment banking fees reached a new all-time high in the region, according to Refinitiv data, demonstrating resilience in face of headwinds such as a tech crackdown, growth slowdown, U.S.-China tensions and more.
Investment banking fees from Asia Pacific ex-Japan reached an estimated $33.5 billion in 2021, according to Refinitiv data, marking an 11.8 percent year-on-year increase.
This is the all-time highest amount of fees earned in a 1-year period since records began in 2000.
It includes $11.7 billion from equity capital markets (21 percent increase and all-time high), $14.1 billion from debt capital markets (3.5 percent increase) and $3.8 billion from M&A transactions (16.9 percent increase).
China Dominance
Despite ongoing headwinds in China such as the ongoing tech crackdown and a growth slowdown, the world’s second-largest economy continued to dominate headlines for the investment banking sector.
China represented 69 percent of investment banking fees generated, ahead of Australia (10 percent) and Hong Kong (9 percent).
Within IPOs, it accounted for 63.6 percent of the region’s $169.3 billion in proceeds last year – an all-time high since records began in 1980 – and 26.1 percent of proceeds globally.
