My understanding was that Goldman and UBS are the only two ibanks allowed to do business in China (is this correct?). So how do MS and JPM still have such high M&A volume in Asia (even without Japan)?
Also, does anyone have current/2008 data for M&A activity in Asia?
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No, that is definitely not correct. Several years ago, MS earned a huge fees for their advices in many big M&A in China. Now, JPM is the most powerful house there, according to the numbers I have in 2008.
Is JPM gaining ground as far as prestige on GS and MS, or are they still considered second tier?
who cares
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