Rodge Cohen Quoted in Financial Times Article on 2012 M&A Trends

December 21, 2011

On December 21, Mr. Cohen was quoted in the Financial Times article, “Eurozone Recovery Central to U.S. Deal Revival,” which explored M&A trends for the upcoming year. Some investment bankers predict that with the stabilization of Europe, M&A in the United States will increase. Mr. Cohen predicted, “The most important barometer of confidence is the stock market. The market is ahead for the year but bank stocks range from being down significantly to precipitously. That is a real killer for deals. Until we get greater clarity on new regulatory and supervisory standards, it is going to be a damper on M&A.” FT noted that with the new regulations that financial institutions have to comply with, bank mergers will be tough. “Today, if you want to buy a bank it is unclear what your pro-forma capital ratios need to be or whether any significant capital diminution will be permitted,” said Mr. Cohen.