Globally, the volume of completed M&A transactions for the first half was down 30% versus the prior year. Five of our nine large global bank competitors have reported second quarter results so far and their aggregate year-to-date advisory revenue was down 19% versus ours down 12%.You will recall that the trend of our growing advisory revenue faster than the nine large banks which are our primary competition has been in place for some time. Coming into 2012 we have grown our advisory revenue 39% over the preceding 3 years while the aggregate advisory revenue of the big bank group actually fell 17%. We are pleased that this trend towards significantly increased market share remains very much in place in the first two quarters of 2012.
Greenhill & Co Corporation CEO Discusses Q2 2012 Results - Earnings Call Transcript
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