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Land of the fee: Wall Street’s $8bn bounty

" An ever-widening gap between the fees paid by US companies for bread-and-butter advisory services and those paid in the rest of the world has helped Wall Street’s big lenders dominate global investment banking. 

Data analysed by the Financial Times show US buyers and sellers paid $8bn more in fees than their European peers for similar transactions in the past 11 years, based on figures provided by Dealogic."

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“US regulators are sitting on their hands and doing nothing about it [the pricing gap],” says Dennis Kelleher, chief executive of Better Markets, a Washington-based watchdog that campaigns for financial services reform.

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To read the full Financial Times article by Laura Noonan click here.

 

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