NYT: Investment Bankers Will Feel the Pain of GE Capital Spinoff
The New York Times noted in a report that shrinking GE Capital will keep M&A practitioners busy for a while, but borrowing by the financial giant has been the biggest moneymaker for investment bankers over the last 15 years.
The Times reported that Wall Street will probably have to bid farewell to its fee darling, General Electric, noting that GE has been the best corporate client for investment bankers over the last 15 years, spending some $5.1 billion for advice and assistance.
The Times said the finance unit announced it was paring its commercial paper issuance to just $5 billion this year and that it would not need to raise any long-term debt for the next five years.
To read the New York Times report, click here.