How important is IBD (IPO and M&A) for banks profit?
What's the approximately percentage of total profits that comes from the M&A and IPOs operations? Counting only the investment banking activities (not retail and commercial banking of big global banks).
Trading dwarfs the money made off those fees, this is common knowledge. Also, sounds like you have a lot to learn; you could be an investment banker and have a great year without doing a single M&A deal or IPO.
http://www2.goldmansachs.com/investor-relations/financials/current/10k/2010-10-k.pdf
You should check the income statements for publicly traded banks. They usually segment out in the footnotes. In general, trading is much more profitable for bulge bracket banks.
"Independent" advisory firms (e.g. Lazard, Evercore, Moelis) that don't have S&T arms/do limited S&T work typically rely much more on IB revenues and profits.
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