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JP Morgan and Goldman Sachs lead investment banks

JP Morgan and Goldman Sachs led the top investment banks measured by fees in 2019, according to a report by the U.S. International Trade Commission.

Three other banks in the United States were placed in subsequent positions: Bank of America Merrill Lynch, Morgan Stanley and Citigroup.

With this, the United States was home to the five largest investment banks in the world.

In addition to this, leading investment banks were headquartered in the United Kingdom, Switzerland, Germany, and Japan.

In 2018, global investment banking revenues were estimated at $ 81.1 billion, significantly more than in 2009 (58.1 billion), but slightly below the level in 2014 ($ 82.7 billion).

The United States represented 49% of this total, with revenues of $ 39.7 billion, compared to a market share of 46% in 2014 on revenues of $ 38 billion.

Investment banks

In contrast, during 2014-18, Latin America, Europe, and the Asia-Pacific region experienced a net decline in investment banking revenues.

In 2019, eight of the 10 largest investment banks reported a decline in fee income.

Always according to that same report by the International Trade Commission, the largest securities companies tend to operate worldwide. For example, 49% of Goldman Sachs’ workforce was based outside of the United States during the period, while 51% of JP Morgan’s industry-specific income came from foreign countries.

Although many securities firms are small, some large firms represent a significant share of employment in the industry.

Top ten global investment banks, by 2019 fees (billion dollars)

In the United States, for example, 90% of brokerage firms registered with the Financial Industry Regulatory Authority (FINRA) had 150 or fewer employees in 2017, but 81% of FINRA-registered representatives worked at firms with at least 500 employees.

 

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