Investment Banking

Europe’s banks can’t ignore the M&A rush in fight with the US giants

Banks on the continent might fail to survive if they do not use consolidation to their advantage

While joining forces has been a feature of the market stateside, EU banks have been slower to face up to threats
While joining forces has been a feature of the market stateside, EU banks have been slower to face up to threats Photo: Jeremy Moeller/Getty Images

The global economy is on a mergers and acquisitions tear, with more tie-ups in the first half of 2021 than in any year this century. Flush with cash and able to borrow at rock-bottom rates, companies around the world are seizing the opportunity to reimagine, reorganize and refashion themselves for the post-Covid-19 economy.

Except for European banks, that is. 

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Bank of New York Mellon Approached Northern Trust to Discuss Potential MergerExternal link

Bank of New York Mellon Approached Northern Trust to Discuss Potential Merger