2025 Bulge Bracket and Silver Bracket

WSO list the following as BBs (https://www.wallstreetoasis.com/company/bulge-bra…)

• Goldman Sachs
• J.P. Morgan
• Morgan Stanley
• Deutsche Bank
• Barclays
• UBS
• Citigroup
• Bank of America Securities
• HSBC
• BNP Paribas
• Société Générale
• RBC (Royal Bank of Canada)

This is too many though so looking through 2024 data..

(https://www.lseg.com/en/data-analytics/products/d…)

Three Criteria for Bulge Bracket Status:
-Top 10 in Globally

-Top 10 in 2 of 3 Regions (Americas, EMEA, APAC)

-Top 10 in in 3 of 4 Products/Fee Pools (M&A, Sponsors Fees, ECM, & Syndicated Loans)

JPM, GS, MS, BofA, Citi, Barclays

Three Criteria for Silver Bracket Status:

-Top 20 in Globally

-Top 20 in 2 of 3 Regions (Americas, EMEA, APAC)

-Top 20 in in 3 of 4 Products/Fee Pools (M&A, Sponsors Fees, ECM, & Syndicated Loans)

Deutche Bank, Jefferies, UBS, HSBC

Top 20 Gloabally Not Included

Wells, RBC, TD Securities, BMO (Only Americas in Top 20)

BNP (Only EMEA in Top 20)

Sumimoto (Only APAC Top 20)

Mizuho (Not Top 20 M&A or Sponsor Fees)

Centerview, Evercore, Lazard (Advisory)