European Firms' Q1 Capital Market Revenues Maintain Momentum

European firms with major capital market activities (including Credit Suisse Group, UBS Group, Deutsche Bank, Barclays, BNP Paribas and HSBC) enjoyed revenue momentum in Q1 and reported the best quarterly capital markets revenues since the beginning of the Coronavirus pandemic. Strong capital market revenue performance helped mitigate the impact of the default of Archegos Capital Management (Archegos), a US Family office that failed to meet margin calls at end of March 2021, and whose default negatively impacted the Q1 results at some European Firms.