European Union banks just can't catch a break.
Many of them are still slogging uphill to recoup share price losses incurred from the Brexit vote in the U.K. European investment banking revenue overall is down 23 percent this year compared with the same period in 2015, according to data tracker Dealogic. And all are lagging behind U.S. banks for wallet share, or how much revenue they take in from dealmaking compared to competitors.
It's followed by Goldman Sachs, which has 6.2 percent of deals, and only then, in third place, is an EU bank: Deutsche Bank has 5 percent of revenue on European mergers and acquisitions. But European banks (and their American counterparts) are fighting off a rising tide of boutique banks that have taken a growing percentage of M&A revenue from them over the last decade.