- Preliminary results for Wall Street’s competitive league-table rankings are in.
- JPMorgan is set to retain bragging rights as the top overall investment bank.
- Races in other lines of business – like equity capital markets – are too close to call.
The year in dealmaking is closing with a bang, with late-arriving megadeals shaking up some of the rankings of Wall Street’s top investment banks.
With just under two weeks to go before close of the 2017, Dealogic is out with its preliminary results for the year in investment banking – and it’s looking like another big year for JPMorgan.
Some league-table races are all but over: With $US6.4 billion, JPMorgan has a healthy lead in overall investment-banking revenue. Goldman Sachs trails by $US820 million in second place.
But some lines of business will come down to the wire: In global equity capital markets by revenue, Morgan Stanley leads JPMorgan by just $US4 million, $US1.270 billion to $US1.266 billion.
Across the industry, revenue increased to a three-year high of $US78.1 billion, led by the revival in global ECM, which saw a 25% increase in annual revenue to $US17.6 billion.
A wave of announced megadeals have made the fourth quarter the sixth-busiest quarter for mergers and acquisitions in the past decade, according to Dealogic. The four largest tie-ups of the year were all announced in Q4, including Broadcom-Qualcomm ($US130 billion), CVS-Aetna ($US69 billion), Disney-21st Century Fox ($US69 billion), and Hochtief-Abertis Infraestructuras ($US42 billion).
Still, it’s a down year overall for global M&A, falling 9% to $US3.52 trillion.
Here’s a breakdown of the preliminary results for the major rankings, according to Dealogic. Read on to see who’s on pace to win bragging rights this year: