JP Morgan maintains lead for first four months

IFR 2181 29 April to 5 May 2017
6 min read
Americas, EMEA, Asia
Steve Slater

JP Morgan has maintained a healthy lead over rivals for fees from M&A advisory, capital markets underwriting and syndicated lending through to the end of April, to take an almost 7% share of the market in the first four months of 2017.

The New York-based bank took US$2.08bn in fees for 6.9% of the global pool through to April 27, according to Thomson Reuters data.

JP Morgan led with 1,316 deals in M&A, equity and debt capital markets and syndicated lending, the data showed.

Goldman Sachs was second with US$1.95bn of fees from 893 deals, to give it a 6.5% market share. Bank of America Merrill Lynch brought in US$1.78bn from 1,308 deals for a 5.9% share, well ahead of other rivals.

Total global fees were US$30.01bn, up 14% from the same stage of 2016. That reveals a slowdown during April, as fees had been up 18% on the 2016 level at the end of the first quarter.

JP Morgan was the leading bank in the Americas, with a 9.4% share of the market there, and in Europe, Middle East and Africa, with a 6.5% share.

Sumitomo Mitsui was the leading bank in Asia, with a 6% market share, ahead of Mizuho Financial and Morgan Stanley.

JP Morgan topped the fees for bond underwriting and syndicated loans, and Goldman was the leading bank for equity underwriting, the data showed.

Barclays remained the top non-US bank for global fees, ranking sixth, with a 3.9% market share.

The top eight places were the same this year as at the same stage of 2016. Wells Fargo, which ranked ninth at the same stage of last year, has slipped to 11th this year.

Global Investment Banking Fees: April 2017
Global Investment Banking Fees
ManagingNo ofTotalShare
bank or groupissuesUS$(m)(%)
​ 1JP Morgan1,3162,079.06.9
2Goldman Sachs8931,945.46.5
3BofA Merrill Lynch1,3081,783.15.9
4Morgan Stanley1,1101,476.14.9
5Citigroup1,2571,467.74.9
6Barclays9941,160.03.9
7Credit Suisse7391,116.13.7
8Deutsche Bank8161,033.13.4
9RBC CM725674.32.2
10UBS397634.32.1
11Wells Fargo & Co919609.12.0
12HSBC920599.12.0
13BNP Paribas648536.71.8
14Mizuho Financial1,031527.61.8
15Sumitomo Mitsui924512.01.7
16Mitsubishi UFJ891410.21.4
17Lazard93387.91.3
18Jefferies248376.81.3
19BMO CM409373.91.2
20Nomura563357.51.2
Total​14,75130,011.2
Americas Investment Banking: April 2017
Americas Investment Banking
ManagingNo ofTotalShare
bank or groupissuesUS$(m)(%)
1JP Morgan9031,484.49.4
2Goldman Sachs5201,373.28.7
3BofA Merrill Lynch9561,294.28.2
4Morgan Stanley570960.96.1
5Citigroup767919.35.8
6Credit Suisse439792.15.0
7Barclays607775.94.9
8RBC CM591588.93.7
9Wells Fargo & Co870583.33.7
10Deutsche Bank406545.53.5
Total​5,66215,715.4
Asia-Pacific & Japan Investment Banking: April 2017
Asia-Pacific & Japan Investment Banking
ManagingNo ofTotalShare
bank or groupissuesUS$(m)(%)
1Sumitomo Mitsui695403.26.0
2Mizuho Financial696342.75.1
3Morgan Stanley386262.03.9
4Mitsubishi UFJ498205.43.0
5Citigroup180197.22.9
6Nomura335190.82.8
7Goldman Sachs164163.92.4
8Citic347156.72.3
9HSBC273138.12.0
10Haitong Securities96138.02.0
Total​6,1106,738.9
EMEA Investment Banking: April 2017
EMEA Investment Banking
ManagingNo ofTotalShare
bank or groupissuesUS$(m)(%)
1JP Morgan324489.76.5
2Goldman Sachs209408.25.4
3Deutsche Bank303388.15.1
4BofA Merrill Lynch216356.24.7
5Citigroup310351.24.6
6BNP Paribas323339.44.5
7Barclays292316.84.2
8HSBC348267.33.5
9Morgan Stanley154253.13.3
10UBS139246.93.3
Total​3,1377,556.9
Global Bonds: April 2017
Global Bonds
ManagingNo ofTotalShare
bank or groupissuesUS$(m)(%)
1JP Morgan710704.87.6
2BofA Merrill Lynch704602.86.5
3Citigroup792595.56.4
4Goldman Sachs493441.14.7
5Morgan Stanley748440.24.7
6Barclays591433.04.6
7Deutsche Bank488379.84.1
8HSBC644354.23.8
9Credit Suisse397314.93.4
10BNP Paribas386242.72.6
Total​7,9259,314.1
Global Equities: April 2017
Global Equities
ManagingNo ofTotalShare
bank or groupissuesUS$(m)(%)
1Goldman Sachs112484.66.9
2JP Morgan130468.46.7
3Morgan Stanley144382.65.5
4Citigroup126344.34.9
5BofA Merrill Lynch111314.94.5
6Deutsche Bank84284.84.1
7Credit Suisse91259.33.7
8UBS83209.63.0
9Barclays83176.22.5
10Sumitomo Mitsui81144.32.1
Total​1,8566,977.9
Global Loans: April 2017
Global Loans
ManagingNo ofTotalShare
bank or groupissuesUS$(m)(%)
1JP Morgan389356.36.5
2BofA Merrill Lynch424327.96.0
3Mitsubishi UFJ569266.34.9
4Credit Suisse185261.94.8
5Mizuho Financial384244.04.5
6Barclays247216.54.0
7Sumitomo Mitsui399214.93.9
8Goldman Sachs180201.83.7
9Citigroup273196.43.6
10Deutsche Bank197193.03.5
Total​2,7645,452.1