Slump in investment bank revenues less severe in Asia

The region saw a 9% fall in investment banking revenues in the first half of 2009 as the global financial crisis took its toll. But globally the drop was 24%, with a 39% fall in the Americas alone, according to preliminary Dealogic figures. Meanwhile, M&A transactions declined 16% during the period, although activity picked up in the second quarter, with Australia the most active country.