JP Morgan sets record pace in Q3 for investment banking | IFR – International Financing Review

usbn, revenue, morgan, bank, investment,
Middle East

JP Morgan sets record pace in Q3 for investment banking | IFR – International Financing Review

JP Morgan posted a record third quarter in investment banking as the unit pulled in US$3.3bn in fees, up 52% from a year earlier on a rebound in M&A activity and continued strength in equity underwriting.

The bank earned more than US$1bn in each segment of investment banking in the quarter – advisory and debt and equity underwriting.

In advisory, JP Morgan reported revenue of US$1.2bn, up a whopping 187% from the year ago quarter, when the market was struggling though the Covid-19 shutdown. This year transactions are on course for the best year ever and JP Morgan is taking its share of the pie. It was the bank’s best quarter ever in M&A.

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