Deutsche Bank's investment banking operation is run out of London. Deutsche Bank no longer considers itself a German institution, although it is in fact third-largest equity underwriter in Europe (Goldman Sachs is first and Morgan Stanley is second).
The majority of large investment banking houses in Europe are not German. There are only two (somewhat) German banks other than Deutsche Bank among the top 20 European equity underwrites, HVB/Unicredit (which these days is half German, half Italian) and Dredsner Kleinwort (which is half British, half German). For comparison, six are American (Goldman Sachs, Morgan Stanley, JP Morgan, Citigroup, Merrill Lynch, Lehman Brothers), three are French (BNP Paribas, Societe Generale, Calyon), two are Swiss (UBS, Credit Suisse), two are Austrian (Conctantia, Erste), two are Swedish (Carnegie, Skandinavska Enskilda Banken), one is British (HSBC), and one, Dutch (ABN Amro).
The bond underwriter league table has almost the same set of names with addition of Barclays, Royal Bank of Scotland (both British), France's IXIS, and Canada's RBC Capital Markets...
2006-08-16 13:15:14
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answer #1
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answered by NC 7
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