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Over the past decade, investment banks have surfed the tidal wave of mergers around the world. Now the wave has crashed, how will bankers justify their existence? Will deal-flow pick up again and, if so, which industries and regions are likely to see the most activity?
The M&A world is consumed by an ideological divide. Established banks believe that advisory work will continue to stand by itself, while some of the challengers argue that clients will increasingly seek to link M&A mandates to the commitment of capital.
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