Wall Street will continue reaping rewards from its embrace of blank-check companies for a long time, Bloomberg reports, even if the record-breaking boom in listings comes to an end.
Investment banks have earned as much as $15 billion from underwriting and advisory work with SPACs since the start of last year, according to research firm Coalition Greenwich. At least $8 billion of that revenue hasn’t been booked yet and will show up in banks’ results over the next two years, the data show. Read more.
