How Much In M&A Advisory Fees Did The 5 Largest U.S. Investment Banks Generate In 2016?

by Trefis Team
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The 5 largest U.S investment banks reported $9.5 billion in M&A advisory fees in 2016 – just under 32% of the total figure for the industry.

IB_QA_US_MnA_Fees_FY16
Total M&A advisory fees for the industry are taken from Thomson Reuters’ latest investment banking league tables.

The chart below captures the total M&A advisory fees reported by the five largest U.S. investment banks since 2012. The green-to-red shading for figures along a row show the variations in these revenues for a particular bank over this period.

IB_QA_US_MnA_FeesChange_FY16

The global M&A advisory business has seen a sizable improvement in revenues over the last five years, and the U.S. banks have made the most of their strong global presence to increase their wallet share from 27% in 2012 to 35% in 2015. Fee revenues for these banks fell slightly in 2016 as total M&A deal volumes normalized from the unusually high figure seen in 2015. Goldman remained the leader in the global M&A industry with the premier investment bank capturing roughly 10% of all advisory fees. Notably, Goldman has held on to the top spot in terms of total annual M&A fees each year since at least 2005.

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

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

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