How Have M&A Advisory Fees For The Largest U.S. Investment Banks Changed Over The Last 5 Quarters?
M&A advisory fees for the five largest U.S. banks have been around $2.5 billion on average over the last five quarters. As the M&A industry in itself has seen notable fluctuations in the level of activity over this period, their share of total fees has swung between 30% and 42%.
Fees (in $ million) | Q1 2015 | Q2 2015 | Q3 2015 | Q4 2015 | Q1 2016 |
Goldman Sachs | 961 | 821 | 809 | 879 | 771 |
Morgan Stanley | 471 | 423 | 557 | 516 | 591 |
JPMorgan | 542 | 466 | 503 | 622 | 585 |
Bank of America | 428 | 276 | 391 | 408 | 346 |
Citigroup | 298 | 258 | 243 | 303 | 227 |
U.S. Top 5 Total | 2,700 | 2,244 | 2,503 | 2,728 | 2,520 |
Industry Total | 6,366 | 7,512 | 7,275 | 8,234 | 6,028 |
=> U.S. Top 5 as % of Total | 42% | 30% | 34% | 33% | 42% |
See the links below for more information and analysis about the 5 largest U.S. investment banks:
- 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 Much In Equity Underwriting Fees Did The 5 Largest U.S. Investment Banks Generate In Q1 2016?
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
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