In the last 7 months investment banks have performed poorly, however some of the banks are just better at limiting their loses. JP Morgan took over as the #1 underwriter on Wall Street according to numbers compiled by Thomson Financial. Here are the details:
According to Thomson, underwriting volume fell to $1.27 trillion from $2.3 trillion a year earlier. JPMorgan arranged $129.4 billion of offerings, winning a 10.2 percent share.
Citigroup followed with $94.7 billion of offerings and a 7.5 percent share. Deutsche Bank AG was third, with $91.8 billion of offerings and a 7.2 percent share.
Citigroup followed with $94.7 billion of offerings and a 7.5 percent share. Deutsche Bank AG was third, with $91.8 billion of offerings and a 7.2 percent share.
JP Morgan has not released any statement on the matter, however many of you will be seeing this table when they come to recruit on campus next year. Citigroup had this to say:
Citigroup in a statement said it manages its business "for productivity and profitability rather than league table position."
Sounds like a loser's mentality to me.
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1 comment:
I agree. That kind of statement should not be coming from a competitive investment bank. They should have said something like " we will work to be back at the top of the league tables"
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