How Have Advisory & Underwriting Fees For The Largest U.S. Investment Banks Changed In The Last Five Quarters?
Total advisory and underwriting fees for the five largest U.S. banks was unusually low for Q1 2016 – especially since the seasonal nature of the investment banking industry results in the highest levels of fee revenues for the first quarter of a year. In fact, this was the lowest in total advisory and underwriting fees reported by these banks since Q2 2012.
Notably, these five banks pocket roughly 35% of all investment banking fees globally in a quarter.
Total Fees ($ mil) | Q1 2015 | Q2 2015 | Q3 2015 | Q4 2015 | Q1 2016 |
Goldman Sachs | 1,905 | 2,019 | 1,556 | 1,547 | 1,463 |
JPMorgan | 1,761 | 1,825 | 1,612 | 1,538 | 1,321 |
Bank of America | 1,554 | 1,580 | 1,327 | 1,311 | 1,203 |
Morgan Stanley | 1,173 | 1,440 | 1,181 | 1,214 | 990 |
Citigroup | 1,198 | 1,283 | 937 | 1,125 | 875 |
U.S. Top 5 Total | 7,591 | 8,147 | 6,613 | 6,735 | 5,852 |
Industry Total | 19,811 | 24,638 | 18,709 | 21,099 | 16,055 |
=> U.S. Top 5 as % of Total | 38% | 33% | 35% | 32% | 36% |
See the links below for more information and analysis about the 5 largest U.S. investment banks:
- How Much In Total Advisory & Underwriting Fees Did The Largest U.S. Investment Banks Generate In Q1 2016?
- How Much In Equity Underwriting Fees Did The 5 Largest U.S. Investment Banks Generate In Q1 2016?
- How Have Equity Underwriting Fees For The 5 Largest U.S. Investment Banks Changed Since 2010?
- How Much In M&A Advisory Fees Did The 5 Largest U.S. Investment Banks Generate In Q1 2016?
- How Have M&A Advisory Fees For The 5 Largest U.S. Investment Banks Changed Since 2010?
- How Much In Debt Origination Fees Did The 5 Largest U.S. Investment Banks Generate In Q1 2016?
- How Have Debt Origination Fees For The 5 Largest U.S. Investment Banks Changed Since 2010?
- Trailing S&P500 By 18% Since The Start Of 2023, What To Expect From Goldman Sachs Stock?
- Down 12% In The Last Twelve Months, Where Is Goldman Sachs Stock Headed?
- What To Expect From Goldman Sachs Stock?
- Goldman Sachs Stock Is Undervalued At The Current Levels
- Goldman Sachs To Edge Past the Consensus In Q1
- Goldman Sachs Stock Is Trading Below Its Intrinsic Value
Notes:
1) The purpose of these analyses is to help readers focus on a few important things. We hope such lean communication sparks thinking, and encourages readers to comment/ ask questions on the comment section
2) Figures mentioned are approximate values to help our readers remember the key concepts more intuitively. For precise figures, please refer to the full Trefis analysis for Goldman Sachs | JPMorgan | Morgan Stanley | Bank of America | Citigroup
View Interactive Institutional Research (Powered by Trefis):
Global Large Cap | U.S. Mid & Small Cap | European Large & Mid Cap
More Trefis Research