How Have Equity Underwriting Deals Closed By U.S. Investment Banks Trended In The Last 5 Quarters?
The largest U.S. investment banks saw a recovery in total equity underwriting deal size for Q2 2016 from the dismal levels seen in the previous quarter – largely in line with the improvement in the overall industry. However, with global equity capital markets being well below the levels seen a year ago, all the banks reported a marked reduction in deal size year-on-year.
Equity underwriting volumes for individual banks were taken from Thomson Reuters’ investment banking league tables for the last five quarters. The table below captures the respective market shares for each of these banks over this period. The green-to-yellow shading for figures in a quarter should help compare the relative standings of these 5 banking giants in a particular quarter.
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It should be noted that the largest equity capital market deals (IPOs and FPOs) employ more than one investment bank, so the market share figures are not exclusive.
Notably, Morgan Stanley wrested the top spot in terms of global deal size despite faring worse than rivals JPMorgan and Goldman Sachs in the U.S. and EMEA (Europe, Middle East and Africa) markets, thanks to significant gains in Asia. On the other hand, Bank of America-Merrill Lynch fell to the 5th spot among these banks despite ranking higher than Morgan Stanley in these regions because of its smaller presence in developing markets – especially China.
See the links below for more information and analysis about the 5 largest U.S. investment banks:
- What Was The Share Of Major U.S. Investment Banks In Global Equity Underwriting For Q2 2016?
- How Much In M&A Advisory Fees Did The 5 Largest U.S. Investment Banks Generate In 2015?
- How Much In Equity Underwriting Fees Did The 5 Largest U.S. Investment Banks Generate In 2015?
- How Much In Debt Origination Fees Did The 5 Largest U.S. Investment Banks Generate In 2015?
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