How Much In Total Investment Banking Fees Did The Largest U.S. Investment Banks Earn In Q2 2016?

+1.88%
Upside
93.50
Market
95.26
Trefis
MS: Morgan Stanley logo
MS
Morgan Stanley

The 5 largest U.S investment banks roped in more than $7.2 billion in total investment banking fees in Q2 2016 – more than 34% of the total figure for the industry.

IB_QA_US_IBFees_16Q2

Total investment banking fees include revenues generated by these banks from their M&A advisory, equity underwriting and debt origination services. Industry-wide fee figures for these services are taken from Thomson Reuters’ latest investment banking league tables.

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Although the total fee figure saw a 23% jump quarter-on-quarter due to a notable improvement in both debt and equity market conditions from the unusually slow Q1, it was a good 12% below the figure a year ago. The year-on-year reduction can be attributed almost completely to substantially lower equity underwriting fees for Q2 2016. As Morgan Stanley focuses much more on equity underwriting deals compared to debt origination mandates to make money, this also resulted in the investment bank falling to the #5 position in the list (usually taken by Citigroup). You can see how changes to Morgan Stanley’s equity underwriting fees affects our estimates for the bank by making changes to the chart below.

See the links below for more information and analysis about the 5 largest U.S. investment banks:

See full Trefis analysis for Goldman SachsJPMorganMorgan StanleyBank of America | Citigroup

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