How Have Advisory & Underwriting Fees For The Largest U.S. Investment Banks Changed In The Last Five Quarters?

+8.83%
Upside
384
Market
418
Trefis
GS: Goldman Sachs logo
GS
Goldman Sachs

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:

Relevant Articles
  1. Trailing S&P500 By 18% Since The Start Of 2023, What To Expect From Goldman Sachs Stock?
  2. Down 12% In The Last Twelve Months, Where Is Goldman Sachs Stock Headed?
  3. What To Expect From Goldman Sachs Stock?
  4. Goldman Sachs Stock Is Undervalued At The Current Levels
  5. Goldman Sachs To Edge Past the Consensus In Q1
  6. 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 SachsJPMorganMorgan StanleyBank of America | Citigroup

View Interactive Institutional Research (Powered by Trefis):
Global Large CapU.S. Mid & Small CapEuropean Large & Mid Cap
More Trefis Research