LONDON, June 12 JPMorgan Chase (JPM.N) kept its
top spot for investment banking in the first quarter after
bringing in $6.9 billion in revenues, putting it ahead of four
rivals tied for second place, a study showed on Wednesday.
Bank of America Merrill Lynch (BAC.N) and Citigroup (C.N)
made the strongest gains in the January-March period compared to
a year ago, lifting them to joint second spot with Deutsche Bank
(DBKGn.DE) and Goldman Sachs (GS.N), according to industry
analytics firm Coalition.
Barclays (BARC.L) ranked sixth, followed by Credit Suisse
CSGN.VX and Morgan Stanley (MS.N).
The industry is paying particularly close attention to
rankings data as banks are restructuring operations to cut costs
and improve profitability.
JPMorgan brought in $4.3 billion in revenue from fixed
income, currencies and commodities (FICC) trading, which
accounts for more than half of investment bank revenues. Citi
and Deutsche were second and third in FICC income.
Goldman Sachs topped equities revenue with JPMorgan and UBS
UBSN.VX, each bringing in about $1.4 billion in the quarter,
Goldman and Bank of America topped the rankings for advisory
income, each getting $1.4 billion in revenue.
Investment banking income is often volatile, and revenue at
the start of this year was down from year-ago levels but up from
a poor fourth quarter.
The top five U.S. banks reported investment bank revenues
down 7 percent on the year, but up 35 percent on the fourth
quarter. Europe's big four investment banks - Deutsche Bank,
Barclays, UBS and Credit Suisse - reported resilient first
quarters, as cost-cutting helped them to keep pace with their
U.S. rivals and ease concern they were falling behind.
Coalition said JPMorgan was the top investment bank last
year with revenues of $24.1 billion out of $159 billion for the
top 10 banks it assesses.
It says its study is based on public information from banks'
results and benchmarked to a common standard to produce a top 10
(Reporting by Steve Slater; editing by Stephen Nisbet)
email@example.com and follow me on
Keywords: INVESTMENTBANKS RANKINGS/
(C) Reuters 2012. All rights reserved. Republication or redistribution of
Reuters content, including by caching, framing, or similar means, is
expressly prohibited without the prior written consent of Reuters. Reuters
and the Reuters sphere logo are registered trademarks and trademarks of
the Reuters group of companies around the world.