I thought it would be fun to look at 2017 league tables reported investment banking fees in 10k for 10k filers. I'm sure I missed a 10k filer but here is the list (in billions):
- Goldman Sachs $7,371
- JP Morgan $7,248
- Bank of America 6,011
- Morgan Stanley 5,537
- Citigroup 4,404
- Wells Fargo 1,765
- Evercore 1,575
- Lazard 1,385
- Moelis 685
I thought it was interesting how low the boutiques were relative to BBs given how desirable they are from a recruiting standpoint. Does anyone else have any interesting thoughts?
Apples to oranges on boutiques vs BBs. Moelis has like 500 employees total, Goldman has 500 IB interns alone. Just more people/offices/deals.
Surprised to see BAML above MS but not that familiar with what deals they did in 17, must have been some bigger ticket ones
That surprised me too so went back and looked and realized BAML beat MS the last five years...balance sheet really does matter I guess.
I remember BAML was #1 a couple years back in total IB fees (2013?). Yes, balance sheet does matter, especially for capital markets, that’s why JPM is always at the top.
Lot easier to build those fees with a balance sheet. Where was Credit Suisse?
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