Christopher Spink covers financial restructuring across Europe, as assistant editor for International Financing Review. He is currently focusing on the Eurozone crisis as well as regulatory developments as part of IFR’s People & Markets team. Previously he wrote about M&A for another Thomson Reuters title Acquisitions Monthly. During his 15 year career Chris has also covered AIM companies and venture capital backed businesses, as head of research and deputy editor at Growth Company Investor. He also wrote best-selling book, "How to invest when you don’t have any money", when he worked at investment website The Motley Fool.
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Europe’s investment banks lost further ground to their big US rivals in equities and debt trading in the first quarter, with Deutsche Bank lagging as it struggled to revive its fortunes.
UBS’s decision to reduce its fixed income trading business in favour of equities, underwriting and advisory was a winning formula in the first quarter as its investment bank reported a 12% year-on-year rise in revenues to SFr2.1bn (US$2.12bn).
Deutsche Bank’s debt trading arm underperformed US rivals in the first quarter of the year, producing an 11% rise in revenues to €2.29bn, about half the rise shown by US rivals.