US Investment Banks Earned Record Fees in 2017



Fees for the top five US investment banks 

The five largest US investment banks—JPMorgan Chase (JPM), Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), and Morgan Stanley (MS)—garnered more than $15.2 billion in fees from debt capital market activities in 2017. The fees were the highest ever for the top five banks in a single year. The last five-year average was $13 billion. The five banks (XLF) also increased their global market share from ~34% in recent years to just over 35% in 2017. JPMorgan Chase and Bank of America were the top earners with $3.65 billion each.

Article continues below advertisement

Huge reduction expected

JPMorgan Chase might face a substantial reduction in judgment to ~$90 million in a lawsuit. The lawsuit claims that JPMorgan Chase mismanaged an estate. The lawsuit brought a jury verdict of $8 billion in punitive damages in September. However, JPMorgan Chase is seeking to reverse the entire judgment.


More From Market Realist