Destination Asia for Investment Banking
As the credit crisis
has deepened in the U.S., major players in investment banking are making plans to expand their operations to the Asian markets, which have held steadier
than their Western counterparts. Big firms in the United States and Europe have grown more wary of large takeovers, whereas the number of acquisitions in East Asia has risen by 15% so far this year. Executives from such financial powerhouses as Credit Suisse, Goldman Sachs, and JP Morgan have journeyed East in search of investment opportunities
Some predict that even after the worst of the credit crunch has passed, firms might stay on in China and East Asia, taking advantage of their huge growth and available capital.