Bank of America May Unseat JPMorgan as Top Investment Bank
JPMorgan's investment banking division has brought in more revenue than its counterparts at other banks in every quarter going back to at least the first quarter of last year, according to the Barclays Capital report, which cites Dealogic data.
As of Tuesday's report, however, Bank of America had brought in $550 million in investment banking revenue so far in the quarter, slightly more than the $541 posted by JPMorgan.
Morgan Stanley is in third place with $461 million, followed by Citigroup, Goldman Sachs, Credit Suisse and Barclays.
The overall numbers are down sharply from last year, however, when banks brought in more than $22 billion in revenue in the fourth quarter.
This time around, they have brought in just under $7 billion in revenue so far in the quarter.
Barclays projects industry investment banking revenue for the quarter will come in slightly below the $14 billion set in the third quarter of 2011, but above the decade-long low of $11 billion seen in both the fourth quarter of 2008 and the first quarter of 2009.
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