JPMorgan Proves It’s the Best Bank in Town
JPMorgan (NYSE:JPM) is the best investment bank in the country, according to a first-quarter report on banking performance conducted by analytics firm Coalition. JPMorgan’s investment banking operations brought in revenue of $6.9 billion, putting it at the top of a fiercely competitive list that had four other rivals tied for second place.
Bank of America (NYSE:BAC), Citigroup (NYSE:C), Deutsche Bank (NYSE:DB), and Goldman Sachs (NYSE:GS) all tied for the second spot, with Barclays (NYSE:BCS), Credit Suisse (NYSE:CS), and Morgan Stanley (NYSE:MS) following right behind. Overall, investment bank revenues at the top five firms were down 7 percent on the year, but up 35 percent on the quarter.