Filed under: Deals, Goldman Sachs Group (GS), Morgan Stanley (MS)
When it comes to mergers and acquisitions (M&A), there has been little doubt that New York City is the center of the action. However, with the credit squeeze — as well as the emergence of developing countries, such as India and China — things are changing.
Take Deutsche Bank AG. This week, the firm announced the co-heads for its M&A group, Henrik Aslaksen and Brett Olsher. And they’ll operate out of London, according to a report from the Wall Street Journal [a paid publication].
Think about something else: the heads of M&A at Goldman Sachs (NYSE: GS) and Morgan Stanley (NYSE: MS) are also based in London.
There’s definitely logic to this. After all, corporate clients want a global perspective and capability. And, for the most part, London has had a storied history in finance — with strong ties to the rest Europe, the Middle East, and Asia.
As for Olsher and Aslaksen, they both have extensive global experience — working on such high-profile deals as Tata Steel’s buy of Corus Group.
Tom Taulli is the author of various books, including The Complete M&A Handbook
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