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payday loans online Business2020 biggest earning year for investment bankers on New Zealand deals22 Jan, 2021 04:00 PM10 minutes to readIt was a big pay day for investment bankers in New Zealand last year.Figures from financial research firmRefinitiv show US$348 million ($490m) was paid out in investment banking fees in 2020, up 76 per cent on the prior year and the highest amount paid out in the last 20 years of data supplied.Read MoreInvestment banks braced for pandemic earnings wipeout NZ HeraldGrim day for investment banks and brokerages NZ HeraldGlobal banks generate record $174 billion fee haul in 2020 NZ HeraldThe second highest year was 2011, just two years after the Global Financial Crisis hit when New Zealand was in the midst of a local collapse of its property and mezzanine finance industry. That year saw US$255m in fees paid.Roger Wallis, a partner at law firm Chapman Tripp specialising in capital markets, said bankers, lawyers and accountants tended to get busier during periods of change.Wallis said the total fees paid looked a bit high but that could be partly due to the delayed nature of when bankers were paid for their work.”One of the phenomena is that the investment banks tend to get paid when the deal settles. Like chief executive remuneration sometimes the gross figure that is published actually relates to what happened the year before.”He said there were a couple of large merger and acquisition transactions that happened in 2019 which did not close until 2020 which would have pushed the fee payments into last year..payday loans online

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