European Investment Banking 2025: Modest Recovery, IPO Slump & Strong 2026 Outlook

Gist Global investment banking fees grew in 2025, but Europe significantly lagged the US in both fee and deal growth. European and especially London IPO markets remained extremely weak in 2025, even as global IPO activity improved. Private equity exits have been delayed by valuation gaps, yet European PE and infrastructure deal activity rebounded sharply …

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