The dry-up in the IPo market is not only forcing
merchant bankers to downsize their teams but look at other revenue generation
options such as buybacks, CDRs, PEs and mergers & acquisitions (M&A).
Recently Deutsche Bank cut 1900 jobs after its second
quarter profit fell 46%. The job cuts will come from the investment banking
division. Morgan Stanley, Goldman sachs and JP Morgan have globally announced
plans to cut jobs or, trim compensation to minimize expenses
source THE HINDU BUSINESS LINE Aug4,’12
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