WEST PALM BEACH, FL (www.hedgeco.net) – Morgan Stanley and other companies gained ground in investment banking fees collected last year while Citigroup and JP Morgan lost some ground according to newreports. New released data shows that Citigroup’s investment fees collected from businesses such as mergers and acquisitions, debt and equity sales, and syndicated loans fell from the previous 7.7per cent collected in 2003 to 7.4 per cent in 2004.
New research conducted by data provider Dealogic, also shows that JP Morgan also lost some ground in its share of such fees. In 2003 JP Morgan collected 7.5%, while it took in 7.1% in 2004. On the other hand, Morgan Stanley’s share grew from 5.5% in 2003 to 5.8 in 2004, while Goldman Sachs dipped from 6.2% in 2003 to 6.0% in 2004.
The data also shows that Goldman Sachs was the number one firm in the area of mergers and acquisitions; in 2003 the firm took in $2.8 billion from such deals, while its revenues from such activities jumped to $3.2 billion in 2004. According to Dealogic’s data, Goldman made $11.9 billion from its activities in fixed income, currencies, commodities and currencies trading.
Goldman and JPMorgan earned nearly similar incomes of their investment banking fees from equity and debt capital markets as well as Mergers and Acquisitions. On the other hand, 49 per cent of Citigroup’s fees came from debt capital markets and syndicated lending, while JPMorgan received about 55 per cent of its fees from debt and loans according to the new data.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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