All grown up and nowhere to go


Posted on: March 4, 2008

“Citi No. 1 Again

Even in a year as eventful as 2007, the pecking order for Wall Street’s best-paid investment banks didn’t change. For the fourth year in a row, the top five were Citigroup, Goldman Sachs, Morgan Stanley, JPMorgan Chase and Merrill Lynch, all based in New York.

Citigroup brought in $6.88 billion in fees from M&A and securities underwriting, according to Bloomberg data, 19 percent more than the $5.79 billion in 2006. Goldman Sachs was second in total investment banking fees with $6.66 billion, up 18 percent from 2006.

Morgan Stanley, which placed third, recorded an estimated $6.36 billion, up 22 percent from $5.22 billion, Bloomberg numbers show. Rounding out the top five, JPMorgan Chase garnered $6.23 billion, up 33 percent from a year earlier, and Merrill Lynch brought in $5.55 billion, up 23 percent from 2006.

Citigroup held on to No. 1 by reaping more from fixed income than rivals did. Total fees from bond underwriting rose 30 percent to $18.8 billion in the year. Of that, Citigroup captured $1.69 billion, 13 percent more than in 2006.”

Source: Bloomberg


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