JPMorgan Chase & Co. Inc. finished No. 1 in a ranking of global investment banks by revenue in 2011 published by Dealogic on Tuesday.
JPMorgan Chase took the highest percentage of investment banking revenue during the year, with an 8.1% share of $68 billion generated overall by investment banking globally. Bank of America Merrill Lynch had the second-highest revenue share, at 7.4%. Goldman Sachs Group Inc., in third place, took a 5.8% share of revenue, Dealogic said.
Total investment banking revenue dropped 4% in 2011 compared with 2010, Dealogic figures showed. The bulk of the revenue, 62%, was generated in the first half of the year, underscoring the degree to which investment banking activity has slowed in the second half as uncertainty created primarily by the euro-zone debt crisis put the brakes on many deals and other types of investment banking activity.
Of banking activity types, mergers and acquisition advisory took the largest percentage of investment banking revenue, Dealogic said, at 27%, up from 25% in 2010. Syndicated loans also increased their share of investment banking revenue, going to just under a quarter of total revenue from 16% in 2010. Equity and debt capital markets activity both contracted as a proportion of investment banking revenue.