When it comes to investment banking, 2010 belongs to JPMorgan Chase, according to the results of a Dealogic study reported by The Wall Street Journal. In its gold-medal performance, JPMorgan raked in $5.2 billion this year. Bank of America came in second with $4.6 billion, followed by Goldman Sachs with $4 billion.
And wherever there are winners, there are inevitably some losers. From The Journal:
Among the biggest losers, Royal Bank of Scotland Group PLC’s investment-banking revenue fell 23%, according to Dealogic. Nomura Securities’ fell 22%. Among U.S. banks, Citigroup’s investment-banking revenue fell 15% from 2009, while Wells Fargo & Co.’s Wells Fargo Securities declined 13%.
The data indicate Wall Street’s traditional U.S. heavyweights are losing their firm grip on the business. Though it still ranked first year over year, J.P. Morgan’s revenues were down 6%. Goldman’s were down 3%.
Sad days for Citigroup, its futuristic new flagship bank notwithstanding.
mtaylor [at] observer.com | @mbrookstaylor