Asia enjoyed a surprisingly vibrant 2015 for MA. Total announced deal flow for Asia ex-Japan was $827.6 billion as of November 27, around 18% of the global total. That was 55% higher than in the same period in 2014, according to Dealogic.
Unfortunately, MA fees fell marginally to $1.1 billion over the same period. In Asia, advice did not pay well.
That was because almost a third of the region’s MA activity comprised Chinese state-owned enterprise SOE and Korean chaebol restructurings, and the internal reorganisation of two of Hong Kong tycoon Li Ka-shing’s conglomerates. The first two offered relatively low fees...
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