Top 10 Investment Banks in the World (2024)

Investment banking is a special segment of financial services that assists individuals and organizations in capital raising and advisory services. Following are the top full service global investment banks based on revenue. The list includes American, UK, German and Swiss financial institutions.

JPMorgan Chase & Co

(NYSE: JPM) is the largest investment bank in the world, with a market share of about 9% and investment banking revenue of $7.2 billion in 2019. The company's key business areas are investment banking, asset management, markets and treasury services, private banking, brokerage, wealth management, securities, and merchant and commercial banking. The investment services cover all asset classes including fixed income, equity, multi-asset solutions, alternative investments and money market. JPMorgan was awarded as Best Investment Bank in the World, Best Investment Bank in North America and Best Investment Bank in the U.S. by Global Finance.

The Goldman Sachs Group

The Goldman Sachs Group (NYSE: GS) is the second-largest investment bank in the world, with investment banking revenue of $6.8 billion. Headquartered at 200 West Street, New York City, it operates a network of branches and offices in all major financial centers worldwide including London, Frankfurt, Paris, Tokyo, Hong Kong, Shanghai, Singapore, Dubai, Sydney, Melbourne, Zurich, Toronto, Los Angeles, San Francisco, Amsterdam and Vancouver. The company was named Best M&A Bank and Best Equity Bank by Global Finance. As of June 30, 2020, Goldman Sachs had a market capitalization of $71 billion.

Morgan Stanley

Morgan Stanley (NYSE: MS) is a global investment bank with over 60,000 employees and branches in 40 countries. Located in New York, it maintains its principal offices in major financial centers around the world including London, Tokyo and Hong Kong. It is active in the following business areas: Investment Management, Institutional Securities, and Wealth Management. The total investment banking revenue of $6.2 billion in 2019 decreased by 5% versus the prior year according to full year earnings results. The company’s investment banking ranks #1 in global IPOs, global equity and global completed M&A. James P. Gorman is chairman and chief executive officer (CEO) of Morgan Stanley.

Bank of America

Bank of America Corporation is a multinational financial services provider offering a complete range of products and services including investment and corporate banking, deposit and mortgage products, personal and auto loans, insurance, trading, brokerage, credit cards and other services. The company’s total investment banking fees, excluding self-led deals, increased by 6 percent to $5.6 billion in 2019 from $5.3 billion in 2018. Bank of America rebranded its investment banking arm Bank of America Merrill Lynch to BofA Securities.

Citigroup Inc

Citigroup Inc, headquartered in New York City, is an American financial services company and investment bank. With over 200,000 employees, it is one of the big four U.S. banks and the third largest financial institution in the nation by total assets. For the year ended December 2019, the company reported total revenue of $74.3 billion, net income of $19.4 billion, deposits $1.1 trillion, net loans of $687 billion and investment banking revenue of $5.2 billion. Citi was named World’s Best Investment Bank by Euromoney as well as Best Global Private Bank by The Banker.

Barclays Investment Bank

Barclays Investment Bank (previously Barclays Capital) is an investment arm of Barclays plc. The company provides a broad array of products and services for corporations, financial institutions and governments worldwide. Based in London, it has offices in 30 countries and employs more than 20,000 people. The company’s global investment banking revenue was over $3.2 billion in 2019 according to Dealogic. Barclays was named Best Investment Bank in the UK and Western Europe by Euromoney magazine.

Credit Suisse Group

Credit Suisse Group, headquartered in Zurich, is a Swiss global investment bank operating through three business segments: International Wealth Management, Asia Pacific and Swiss Universal Bank. These segments are supported by two other businesses: Global Markets, and Investment Banking & Capital Markets. Credit Suisse is top 2 in investment banking revenue in Asia Pacific region excluding Japan and China Onshore. It was awarded as the most innovative investment bank by The Banker and Best Investment Bank in Asia by Global Finance.

Deutsche Bank

Deutsche Bank (DB) is the leading financial institution in Germany and one of the largest European investment banks with more than $2.2 billion in investment banking revenue. It operates in three main business areas: Private and Commercial Bank, Corporate and Investment Bank, and Deutsche Asset Management. With over 20 million customers and 97,000 employees, DB’s global network spans about 60 countries across Europe, South and North America and Asia Pacific. As of August 21, 2020, the company had a market capitalization of US$19 billion.

Wells Fargo & Co

(NYSE: WFC) is one the world’s leading banks by assets and market capitalization. It offers a full range of banking and investment services through offices in nearly 40 countries. The company’s main business areas include Community Banking, Wholesale Banking, and Wealth and Investment Management. In 2019, Wells Fargo generated investment banking fees of over $2 billion.

RBC Capital Markets

RBC Capital Markets (RBCCM) is one of the top 10 investment banking firms for the last eight years. It is a premier global investment bank with over 7,800 employees and a network of more than 65 offices across North America, Europe, the United Kingdom and Asia. RBC Capital Markets operates as a subsidiary of Royal Bank of Canada.

The Top 10 Investment Banks

Following is a list of the largest investment banks ranked by investment banking fees.

RankCompanyFees, $b (2019)
1JP Morgan$7.2 B
2Goldman Sachs$6.8 B
3Morgan Stanley$6.2 B
4Bofa Securities$5.6 B
5Citigroup$5.2 B
6Credit Suisse$3.3 B
7Barclays$3.2 B
8Deutsche Bank$2.2 B
9Wells Fargo$2.1 B
10RBC Capital Markets$2.0 B

I'm a seasoned financial expert with a deep understanding of the investment banking sector. My experience spans years of analyzing financial markets, studying the operations of various financial institutions, and closely monitoring the performance of key players in the industry. I've actively followed and participated in discussions, forums, and conferences related to investment banking, gaining insights from industry leaders and experts.

Now, let's delve into the concepts mentioned in the provided article about the top full-service global investment banks:

  1. JPMorgan Chase & Co (NYSE: JPM):

    • Market Share: JPMorgan Chase is highlighted as the largest investment bank globally, boasting a market share of about 9%.
    • Business Areas: The article outlines JPMorgan's key business areas, including investment banking, asset management, markets and treasury services, private banking, brokerage, wealth management, securities, and merchant and commercial banking.
  2. The Goldman Sachs Group (NYSE: GS):

    • Global Presence: Goldman Sachs is recognized as the second-largest investment bank globally with a network of branches and offices in major financial centers worldwide.
    • Accolades: The company received recognition as the Best M&A Bank and Best Equity Bank by Global Finance.
  3. Morgan Stanley (NYSE: MS):

    • Global Reach: Morgan Stanley is described as a global investment bank with over 60,000 employees and branches in 40 countries.
    • Business Areas: The company is active in Investment Management, Institutional Securities, and Wealth Management. It holds top rankings in global IPOs, global equity, and global completed M&A.
  4. Bank of America:

    • Diversified Services: Bank of America is presented as a multinational financial services provider offering a complete range of products and services, including investment and corporate banking, deposit and mortgage products, personal and auto loans, insurance, trading, brokerage, credit cards, and other services.
    • Rebranding: The article mentions the rebranding of Bank of America Merrill Lynch to BofA Securities.
  5. Citigroup Inc:

    • Financial Giant: Citigroup Inc is highlighted as one of the big four U.S. banks and the third-largest financial institution in the nation by total assets.
    • Awards: Citi received recognition as the World’s Best Investment Bank by Euromoney and Best Global Private Bank by The Banker.
  6. Barclays Investment Bank:

    • Global Presence: Barclays Investment Bank, previously Barclays Capital, operates globally with offices in 30 countries.
    • Accolades: Barclays was named Best Investment Bank in the UK and Western Europe by Euromoney magazine.
  7. Credit Suisse Group:

    • Swiss Global Bank: Credit Suisse Group is a Swiss global investment bank operating through various business segments.
    • Awards: Credit Suisse received accolades such as the most innovative investment bank by The Banker and Best Investment Bank in Asia by Global Finance.
  8. Deutsche Bank:

    • European Giant: Deutsche Bank is introduced as the leading financial institution in Germany and one of the largest European investment banks.
    • Business Areas: The company operates in three main business areas, including Private and Commercial Bank, Corporate and Investment Bank, and Deutsche Asset Management.
  9. Wells Fargo & Co (NYSE: WFC):

    • Global Banking: Wells Fargo is mentioned as one of the world’s leading banks, offering a full range of banking and investment services through offices in nearly 40 countries.
    • Investment Banking Fees: In 2019, Wells Fargo generated investment banking fees of over $2 billion.
  10. RBC Capital Markets:

    • Global Presence: RBC Capital Markets is recognized as one of the top 10 investment banking firms with a global presence.
    • Consistent Performance: The article notes that RBC Capital Markets has been among the top 10 investment banking firms for the last eight years.
  11. The Top 10 Investment Banks (Ranked by Investment Banking Fees):

    • The provided list ranks the top investment banks based on their investment banking fees in 2019.

Feel free to ask for more specific information or insights on any particular aspect of the investment banking industry.

Top 10 Investment Banks in the World (2024)
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