Q1 2014 U.S. Investment Banking Round-Up: Equity Underwriting

The equity market activity in Q1 2014 appears soft despite being much better than the level observed in Q1 2013 in terms of number of deals completed. The fluctuating activity level was the reason that Thomson Reuters estimated a 21% decline in equity underwriting fees for the industry as a whole in Q1 2014 compared to Q4 2013, although a 27% jump was expected year-on-year.