JP Morgan slips in global equity

IFR 1962 1 December to 7 December 2012
Quick read
Americas, EMEA, Asia
Spencer Anderson

With only a couple of working weeks remaining, JP Morgan still dominates six of the seven fee tables published by Thomson Reuters and Freeman Consulting.

Through November, the lender maintained its near US$700m edge over second-placed Bank of America Merrill Lynch in terms of global investment banking fees, as well as its 7.7% market share. The table was little changed from the previous month, apart from Deutsche Bank, which overtook Barclays for seventh place.

The one area in which JP Morgan stumbled was global equity, where it fell to third place and lost market share. However, a mere US$6m separates it from top-ranked Morgan Stanley in the category and both banks boast a leading market share of 6.7%. Morgan Stanley was boosted by the US$1.69bn MegaFon IPO, on which it was joint global co-ordinator. JP Morgan wasn’t on that deal.

There were few other changes during the month. JP Morgan topped every list apart from Asia-Pacific and Japan investment banking and the previously mentioned global equities. However, the average deal size was up slightly, from US$1.79bn at the end of October to US$1.82bn at the end of November.