Lean years leave banks short of savvy dealmakers

Years of quiet deal markets in Europe have left a generation of junior investment bankers with little opportunity to cut their teeth, and, with many senior staff let go, banks are finding themselves short on experience as business stirs again. With stock markets volatile during the financial crisis and European sovereign debt woes, many companies have held back from raising new funding, going public, or attempting big merger deals. While the European mergers and acquisitions market is still sluggish, with 2013 its slowest year in a decade, the volume of share sales has picked up, according to Thomson Reuters data, with companies raising more this year than any year since 2009. Only a few banks have kept senior teams,” said one senior London-based investment banker.


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