Hi all,
I've noticed several posts that are interested in market share and competitive strength in the S&T, and almost in every thread, someone cites the Citi report. That said, the data is now more than three years old, and I figure that on this site, there is enough collective wisdom to patch together some educated conjecture. In the face of changing regulations and strategic shifts from firms like MS and UBS, and the London LIBOR scandal that affects nearly everyone, I think it's a worthwhile proposition - the question comes up again often enough, and that report was informative for a lot of people.
So, those with some knowledge (including buy side perspective), why don't we try to rank the banks across:
Equities (cash and derivatives)
FICC
With special attention to market share, specific product strengths and niches, pay, and culture.
Are the top 5 still GS, Barclays, JPM, DB and Citi? Ideally the discussion is a mix of rankings and rationale.
Would also like to add maybe it'd be nice if we had certified users able to rank only?
FICC: DB, GS, JPM, Barclays, CITI .....(RBS still strong in fx + securitized) Citi + JPM have biggest revenues. EQUITIES: GS, CS, MS (GS dominates)
Interesting excerpt from a Bloomberg article today, which at some level confirms what futuretrader1999 says:
"Deutsche Bank had a 10.7 percent share of fixed income trading volumes last year, the biggest globally, Greenwich Associates said in a Jan. 14 study. Barclays Plc had the second- largest share with 9.8 percent, JPMorgan Chase & Co. (JPM) was third with 8.8 percent and Citigroup Inc. (C) fourth with 8.1 percent, according to the study."
Would be interesting to get a sense of how this is divided across New York, London and other areas.
bump!
To my understanding in the FICC space, DB is basically shutting down their commodities business. Non-european banks are retreating from the area given Dodd-Frank, and some American banks are using it as an opportunity to grow. Also just from speaking with people (so remember this is second hand and not necessarily true) it sounds like J Aron / GS isn't doing so hot either, so it'll be tough for them in commodities as well. That kind of leaves JPM/Citi/BAML/MS that I can't really speak on, but I'm pretty sure those 4 are pretty solid for commodities.
Last I checked GS/MS still going strong on commods
I did hear from someone at BarCap that commodities trading (specifically oil and gas) remains very strong.
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