In line and resilient
In line with our forecasts and the consensus, revenue and profitability numbers showed some resilience in Q3 2023, despite the toughening macroeconomic environment. Although reiterated FY 2023e revenue guidance pointing to >7% organic growth seems achievable, we remain sceptical about the expect
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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