London’s investment bankers are expected to rake in bigger bonuses this financial year, as the City begins to recover from a two-year slump in deals caused by surging interest rates.
Demand for investment banking services – such as facilitating mergers and acquisitions, advising companies and governments on fundraising, and underwriting new stock and bonds – was hit by a sharp increase in borrowing rates after the pandemic, as central banks acted to tame runaway inflation. Jobs and pay were cut as investment banks sought to reduce costs.
