Even the dealmakers are getting back to basics

The heart of Auckland's professional advisory firms. (Image: Precinct Properties)

Fri, 14 Apr 2023

Dealmakers have been in clover for the past couple of years as cheap money pushed up the price of everything – mergers and acquisitions included. So it was no surprise that the local arms of investment banks Goldman Sachs and UBS reported an uptick in fees in calendar 2022. For Goldman, investment banking income was up 30.8% to $35.9 million, helping drive a more than threefold increase in profit to $18.2m, whereas UBS lifted net fees and commission income 79.6% to $26.4m, reporting a loss of $830,000 as it paid $12.8m in fees t...

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