JPMorgan keeps top spot in investment banking - study
LONDON (Reuters) - JPMorgan Chase(JPM.N) kept its top spot for investment banking revenues last year while Citigroup(C.N) and Barclays(BARC.L) made the biggest improvement compared with 2011, a study showed on Thursday.
Industry analytics firm Coalition said JPMorgan's investment banking revenues of $24.1 billion put it ahead of second-placed Goldman Sachs (GS.N) and a trio of banks shared third place - Bank of America Merrill Lynch (BAC.N), Citi and Deutsche Bank (DBKGn.DE). Barclays ranked sixth.
Coalition last month estimated 2012 revenues for the investment banks in its study at $159 billion, up 10 percent from the year before, led by a 21 percent jump in the core area of fixed income, currencies and commodities (FICC).
Investment banks have put more emphasis on league tables in recent years. Tougher regulation and slower markets have left banks jostling for market share and firms such as UBS (UBSN.VX) and RBS (RBS.L) exiting or shrinking unprofitable areas.
Coalition said JPMorgan was the top bank in FICC with revenues of $14.4 billion, followed by Citi and Deutsche Bank.
Goldman topped equities rankings with $5.6 billion of revenue. JPMorgan and Morgan Stanley (MS.N) tied for second place.
Advisory and origination was led by JPMorgan, with revenues of $5.2 billion, followed by BAML and Goldman, according to Coalition's estimates.
Coalition says its study is based on public information from banks' results and benchmarked to a common standard to produce a top 10 league table. (Reporting by Steve Slater; Editing by Dale Hudson)
- Tweet this
- Share this
- Digg this
- India passes halfway mark in election with BJP gaining strength
- Search for Malaysia Airlines jet refocuses on drone scans of seafloor
- UPDATE 3-Putin talks tough on Ukraine but says he hopes for peace
- Acid attack survivor wins millions on 'Kaun Banega Crorepati'
- UPDATE 3-Salsa music great José "Cheo" Feliciano, 78, dies in car crash
Wipro posted a 29 percent rise in its fourth-quarter net profit, beating expectations, helped by increased IT spending by its customers. For the quarter ended March 31, the company said it earned 22.27 billion rupees compared with 17.29 billion rupees a year earlier. Full Article | Full Coverage
Ex-Goldman director Rajat Gupta to surrender June 17 in insider case. Full Article