JP Morgan and Goldman extend fees lead – International Financing Review

JP Morgan and Goldman extend fees lead – International Financing Review

JP Morgan and Goldman Sachs continued to dominate investment banking in 2021, extending their lead at the top of the table for fees from debt and equity underwriting, M&A advisory and syndicated loans during another record year for such activity.

JP Morgan retained its position at the top of the table for the 12th year in a row, seeing its total fees rise 40% to US$12.9bn, outstripping the overall market, which saw fees increase 22% to US$159.5bn, according to Refinitiv data.

Goldman also had a good year, with its total fees rising 38% to US$11.5bn, leaving it comfortably ahead of third-placed Morgan Stanley, whose fees went up 28% to U$9.1bn, meaning it was able to swap places with Bank of America, whose fees only rose 18% to US$8.7bn.