Investment Banking in Europe: Restructuring for the 1990s

by Ingo Walter, Roy C. Smith

The 1992 initiatives in Europe represent considerable opportunities and significant risks for the investment banking industry, rivalling and possibly surpassing America's deregulation of the 1970s, Britain's big Bang of 1986 and Japan's liberalization of the later 1980s. This book provides an assessment of the impact of 1992 on international financial services. The book begins by outlining the underlying economic and financial restructuring of the single market act which will form much of the basis of the investment banking industry's evolution in the 1990s. The authors go on to analyze the implications for the four principal investment banking services - securities and new issues, corporate financial advisory services (including merges and acquisitions, breakups and leveraged transactions,) brokerage and secondary market trading and investment management. The evolving regulation of European secutities markets is discussed in detail and specific policy suggestions are offered. Ingo Walter and Roy C.Smith conclude with an analysis of the implications of 1992 - related investment banking developments in the context of global securities and the financial markets of the future.

208 pages, Hardcover

First published November 1, 1989