Dealmaking activity in the second quarter exceeded expectations, with total deal values surging 22% to reach $123 billion, driven by successful IPOs like Figma's. Despite this positive trend, hiring in the banking sector has not picked up, as major firms like Goldman Sachs and Barclays continue to implement layoffs. Analysts express surprise at the ongoing job cuts despite strong investment banking performance. Concerns about uncertainty and the influence of technology, such as artificial intelligence, further complicate the hiring landscape and affect bonus forecasts in sectors like M&A and private equity.
Dealmaking in the second quarter was unexpectedly strong, with a 22% increase in deal values, amounting to $123 billion overall. IPOs, such as that of Figma, buoyed optimism among equity capital markets teams.
Despite resurgence in dealmaking, uncertainty looms over Wall Street as hiring remains stagnant, executives stress efficiency, and layoffs persist, with sectors like M&A and private equity facing tepid year-end bonus forecasts.
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