As rising market volatility torpedoed equity issuance and slowed M&A and debt market activity, investment banking revenues dropped to a three-year low in the first half of 2022, Refinitiv reported.<\/p>\n

Global investment banking fees came in at an estimated US$56.7 billion in the first six months of this year, down by 31% from the same period last year.<\/p>\n

The drop was led by the plunge in equity underwriting, which saw fees drop 72% year over year to their lowest level since 2003.<\/p>\n

Debt underwriting fees were also down 26%, syndicated lending declined by 9% and M&A advisory fees edged lower by about 6%, Refinitiv said.<\/p>\n

The report noted that second quarter fees were 12% lower than in the first quarter, as market volatility persisted.<\/p>\n

JP Morgan retained its hold on the top spot in the overall league tables, with an estimated US$3.8 billion in first half fees, which represented a 45% drop year over year.<\/p>\n

Goldman Sachs ranked second, with BofA Securities climbing up to third spot as its fees held up better than most of the major Wall Street firms (down 38% from last year).<\/p>\n

Morgan Stanley and Citi rounded out the top five.<\/p>\n

Two Canadian firms ranked among the top 25 globally, the data showed.<\/p>\n

RBC Capital Markets slipped to 13th spot in Refinitiv’s rankings from 10th place last year, amid a 40% drop in estimated fees, while BMO Capital Markets fell to 25th from 20th as its fees were 24% lower.<\/p>\n","protected":false},"excerpt":{"rendered":"

RBC and BMO remain among top 25 as global fees slide<\/p>\n","protected":false},"author":147314,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2313,2312],"tags":[2620,2700,2347],"yst_prominent_words":[5112,43714,40339,27101,26650,17676,16582,11994,11047,8683,7731,6793,6445,5382,5183,14,5003,4857,4146,1385],"acf":[],"_links":{"self":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/447466"}],"collection":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/users\/147314"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/comments?post=447466"}],"version-history":[{"count":4,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/447466\/revisions"}],"predecessor-version":[{"id":447501,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/447466\/revisions\/447501"}],"wp:attachment":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/media?parent=447466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/categories?post=447466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/tags?post=447466"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/yst_prominent_words?post=447466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}