Japanese and European investment banks agree merger to create global M&A advisory
A Japanese investment bank has agreed a merger with a European peer to create one of the world's largest listed M&A advisories.
The combination of Japan's GCA Savvian and Altium creates a new international investment bank operating across ten countries, in cities such as London, Manchester, Tokyo, San Francisco, New York, Mumbai, Frankfurt and Tel Aviv.
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GCA Altium will have more than $185m (£128.5m) in advisory revenues and 370 staff, including 300 M&A bankers and growth company experts.
In the last three years, the two banks have completed 315 transactions.
The companies said their merger will create the world's seventh largest listed M&A advisory.
Aki Watanabe, representative director of GCA Savvian Corporation, said: “By bringing together these two established companies, we are creating a new global leader in our field… This combination will increase the scale and geographic reach of the firm – positioning GCA as the pre-eminent global investment bank focused on growth companies with a particular strength in technology.”
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Phil Adams, chief executive of Altium, said: “Our merger with GCA Savvian marks a key and exciting step in our growth strategy. Now, more than ever before, our clients are looking for integrated international coverage and this merger will enable us to provide the best possible service to our clients.”
The deal, which has been approved by the companies' boards, is set for completion early in the second half of 2016.