M&As 'to rise in European financial services market'

20/10/2009 M&As 'to rise in European financial services...

Merger and acquisition (M&A) activity is expected by one audit jobs provider to increase in the coming months within Europe's financial services sector.

PricewaterhouseCoopers (PwC) observed that while ?32 billion (£29 billion) worth of M&A deals were unveiled in the first half of this year - down significantly from 2008, where deals were valued at ?178 billion in total - the industry could be about to get busier as it moves into 2010.

PwC partner Nick Page predicted that "a restructuring-led wave of deal activity will gather momentum" in the near future as the 'steady as she goes' ethos begins to subside.

"We anticipate that financial institutions will continue to identify, evaluate and sell their non-core businesses," he added.

Last month, a study by Deloitte indicated that most UK entrepreneurs have put plans to merge with or acquire other businesses on hold, with boosting operational performance their main focus for the next few quarters.

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