As of September 2024, JPMorgan was the world's leading bank in terms of investment banking revenue, generating around 5.1 billion U.S. dollars from the start of the year until that date. In 2023, JPMorgan was also the largest bank in the United States by total assets, followed by Bank of America and Wells Fargo.
Global investment banking is dominated by U.S. banks
The top five investment banks globally were all American multinational firms. As of September 2024, the two leading investment banks by revenue were JPMorgan and Goldman Sachs. While JPMorgan outpaced Goldman Sachs, both banks reported revenues exceeding four billion U.S. dollars. Bank of America and Morgan Stanley ranked third and fourth, with revenues of approximately 3.4 billion and 3.3 billion U.S. dollars, respectively. Together, these four banks held nearly a third of the global investment banking market share in terms of revenue during the first half of 2024.
Investment banking fees
Unsurprisingly, JPMorgan was also the leading bank in terms of investment banking fees. These fees represent the returns banks earn for offering investment services, such as facilitating mergers and acquisitions. In 2024, the largest value of investment banking fees came from services provided to the financial sector.
