Goldman Sachs leads 2026 so far, JPMorgan led 2025
On the figures the banks report themselves, Goldman Sachs earned the most from investment banking in the first nine months of 2026: $9.46 billion in advisory and underwriting fees, 39.9 percent more than a year earlier. JPMorgan Chase followed with $9.03 billion, then Morgan Stanley with $6.71 billion, Bank of America with $5.78 billion and Citi with $3.94 billion. For the full year 2025 the order at the top was the other way round: JPMorgan reported $9.62 billion of investment banking fees and Goldman Sachs $9.34 billion.
The ranking on this page uses only numbers taken from earnings releases, financial supplements and annual or quarterly filings of each bank, for calendar 2025 and for January to September 2026, the period covered by third quarter results published between 13 and 28 October 2026. That makes it different from league tables, which estimate the fees a bank earned deal by deal. Both views are shown, because they rarely agree to the dollar and because each bank labels and scopes its own number differently. Readers who want the wider picture of US capital markets can start with our overview of financial markets in the US.
Full year 2025: ten banks ranked by reported investment banking fees
In calendar 2025 JPMorgan Chase reported $9.615 billion of investment banking fees on its consolidated income statement, up 7.9 percent from $8.910 billion in 2024. Goldman Sachs was close behind at $9.339 billion, a rise of 20.8 percent and the largest dollar gain of any bank in the group. Morgan Stanley reported $7.619 billion in its Institutional Securities segment, up 23.5 percent, and Bank of America $6.630 billion after deducting fees on deals it led for itself.
Below the four leaders the gap widens. Citi reported $4.618 billion, Jefferies $3.790 billion for its fiscal year to 30 November 2025 and Wells Fargo $3.027 billion. The three European banks in the ranking report in their own currencies and use different segment names. Converted at the Federal Reserve average exchange rates for 2025, Barclays earned about $3.25 billion (2.464 billion pounds), UBS reported $3.198 billion of Global Banking revenue and Deutsche Bank about $2.10 billion (1.861 billion euro). All three earned less than in 2024, while every US bank in the list grew.
A two horse race at the top: JPMorgan and Goldman Sachs were $276 million apart in 2025, while third placed Morgan Stanley trailed Goldman Sachs by $1.72 billion.
Even at the top the order depends on what is counted. JPMorgan reports a consolidated fee line that differs slightly from the figure for its Commercial and Investment Bank ($2.960 billion against $3.005 billion in the third quarter of 2026), while the figure for Morgan Stanley covers only Institutional Securities. On a consolidated basis Morgan Stanley reported $8.199 billion of investment banking revenue in 2025, because its wealth management arm also earns underwriting and placement income. Ranking by that wider number would not change the order of the first four banks, but it shows how much the scope of a segment matters. JPMorgan is also the largest US lender by market value, as our list of the biggest companies in the world by market value shows.
January to September 2026: Goldman Sachs moves ahead
Third quarter results put Goldman Sachs in first place for the year to date. Its investment banking fees for the nine months to 30 September 2026 reached $9.459 billion, against $9.026 billion for JPMorgan on the same consolidated basis, a lead of $433 million. Goldman Sachs added $2.70 billion of fees compared with the first nine months of 2025, more than any rival, helped by equity underwriting of $985 million in the second quarter alone and advisory fees of $4.53 billion for the nine months.
JPMorgan still ranks first in the industry league table compiled by Dealogic. In its third quarter release the bank stated that it held the number one position in global investment banking fees with a 9.2 percent wallet share for the year to date, as of 1 October 2026. The difference between that ranking and the reported numbers is explained in the section on why bank figures differ.
Goldman Sachs edges JPMorgan: the two banks are $433 million apart after nine months, while Morgan Stanley is $2.3 billion behind JPMorgan in third place.
Growth was strong almost everywhere. The chart below compares the first nine months of 2026 with the same period of 2025 in each currency of account, so the percentages are not distorted by exchange rates. Goldman Sachs (up 39.9 percent) and Jefferies (up 36.6 percent) grew fastest, both because of advisory and equity underwriting. Morgan Stanley rose 28.9 percent and JPMorgan 23.8 percent. Citi, Bank of America, Barclays, Wells Fargo and Deutsche Bank all grew between 13 and 19 percent.
Every bank in the chart grew: even the slowest, Deutsche Bank, added 13.0 percent in euro terms, while Goldman Sachs added $2.70 billion of fees.
Reported investment banking fees, 2024 to the first nine months of 2026
The table brings the reported totals together with the name each bank gives to the line. Values are in millions of the reporting currency. Year on year changes are BusinessStats calculations from the reported figures.
| Bank | Reported line | 2024 | 2025 | Change | 9M 2025 | 9M 2026 | Change |
|---|---|---|---|---|---|---|---|
| Goldman Sachs | Investment banking fees (firmwide) | $7,732 | $9,339 | +20.8% | $6,762 | $9,459 | +39.9% |
| JPMorgan Chase | Investment banking fees (consolidated) | $8,910 | $9,615 | +7.9% | $7,289 | $9,026 | +23.8% |
| Morgan Stanley | Institutional Securities investment banking | $6,170 | $7,619 | +23.5% | $5,207 | $6,712 | +28.9% |
| Bank of America | Total investment banking fees, net of self-led | $6,186 | $6,630 | +7.2% | $4,964 | $5,778 | +16.4% |
| Citi | Investment banking fees (Banking) | $3,857 | $4,618 | +19.7% | $3,331 | $3,943 | +18.4% |
| Jefferies | Investment banking net revenues (fiscal year to November) | $3,445 | $3,790 | +10.0% | $2,602 | $3,556 | +36.6% |
| Wells Fargo | Investment banking fees (consolidated) | $2,665 | $3,027 | +13.6% | $2,311 | $2,629 | +13.8% |
| Barclays | Banking fees and underwriting (Investment Bank) | £2,504 | £2,464 | -1.6% | £1,858 | £2,157 | +16.1% |
| UBS | Global Banking revenues (Investment Bank) | $3,454 | $3,198 | -7.4% | n/a | n/a | n/a |
| Deutsche Bank | Investment Banking and Capital Markets (Investment Bank) | €1,990 | €1,861 | -6.5% | €1,366 | €1,543 | +13.0% |
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Sources: company filings listed in the Sources box. Jefferies fiscal periods end on 30 November (full year) and 31 August (nine months). Deutsche Bank nine month totals are the sum of the reported quarters (BusinessStats calculation). n/a: not available in the accessible sections of the UBS third quarter report.
Two patterns stand out. First, the five largest US banks by these fees (Goldman Sachs, JPMorgan, Morgan Stanley, Bank of America and Citi) together reported $37.82 billion of investment banking fees in 2025 and $34.92 billion in the first nine months of 2026, so the group needs only $2.90 billion more to match its 2025 total; in the fourth quarter of 2025 alone it earned $10.27 billion. Second, growth was concentrated in advisory and equity underwriting, as the product section shows. Third, the European banks lost ground in 2025 but recovered in 2026, with Barclays up 16.1 percent and Deutsche Bank up 13.0 percent in local currency over nine months.
Five quarters of fees: a strong second quarter, a mixed third
Quarterly figures show where the momentum came from. All five of the largest US banks had their best quarter of the period in the second quarter of 2026, when equity underwriting surged: Goldman Sachs earned $985 million from equity underwriting alone in that quarter, more than double the $428 million of a year earlier. The third quarter was softer. Goldman Sachs and JPMorgan still grew by 21 and 13 percent on the third quarter of 2025, but Morgan Stanley grew only 2 percent and Bank of America fell 10.6 percent.
Second quarter peak: Goldman Sachs reached $3.40 billion and JPMorgan $3.21 billion in 2Q26, the highest quarters in the series for both banks.
| Bank | 3Q 2026 | 3Q 2025 | Change | What the bank said drove the quarter |
|---|---|---|---|---|
| Goldman Sachs | $3,224m | $2,657m | +21.3% | Higher advisory, equity and debt underwriting fees |
| JPMorgan Chase | $2,960m | $2,612m | +13.3% | CIB fees up 14%, predominantly higher advisory fees |
| Morgan Stanley | $2,159m | $2,108m | +2.4% | Advisory up on completed M&A; IPOs and blocks lower |
| Bank of America | $1,799m | $2,013m | -10.6% | Lower debt issuance and advisory fees |
| Jefferies (Jun to Aug) | $1,331m | $1,135m | +17.3% | Advisory $818m, equity underwriting $306m |
| Citi | $1,219m | $1,169m | +4.3% | ECM revenue up 77%; advisory down 4% |
| Wells Fargo | $894m | $840m | +6.4% | Not split by product |
| Barclays | £656m | £646m | +1.5% | Advisory and ECM up, DCM down |
| Deutsche Bank | €507m | €502m | +1.0% | Advisory and equity origination up; leveraged debt lower |
| UBS | $670m | n/a | -21% | Advisory down 44% against a record prior year quarter |
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Sources: third quarter 2026 releases, supplements and, for UBS, the third quarter earnings call transcript filed on Form 6-K. Bank of America drivers are BusinessStats readings of its product table; Citi drivers refer to its investment banking revenue measure.
The softer third quarter matters for the full year ranking. Goldman Sachs said its investment banking backlog at the end of September was lower than at the end of June and slightly lower than at the end of 2025, while UBS said it expected Global Banking revenue to rise in the fourth quarter on its current pipeline. Debt underwriting, the most rate sensitive product, fell at Morgan Stanley, Bank of America, Citi, Barclays and Deutsche Bank in the quarter; interest rate levels that drive bond issuance are tracked on our pages on the federal funds rate and ten year government bond yields.
Where the fees come from: advisory, equity underwriting and debt underwriting
Investment banking fees come from three products. Advisory fees are paid for work on mergers, acquisitions, divestitures and restructurings, usually when a deal completes. Equity underwriting fees are earned on initial public offerings, follow-on share sales, block trades and convertible bonds. Debt underwriting fees come from arranging bond issues and syndicated or leveraged loans. Each bank has a different mix, and the mix explains much of the difference in growth.
Different engines: Goldman Sachs earns almost half of its fees from advisory, while Bank of America earns more than half from debt underwriting.
Goldman Sachs is the clearest advisory house among the large banks. In 2025 advisory fees of $4.726 billion made up 50.6 percent of its investment banking fees, and in the first nine months of 2026 advisory rose 34.3 percent to $4.526 billion. Its equity underwriting grew even faster, up 73.1 percent to $2.186 billion. Jefferies has an even higher advisory share, 57.4 percent of its three product lines in the nine months to August, and its equity underwriting more than doubled to $982 million while debt underwriting fell 20.7 percent.
Advisory heavy vs debt heavy: the advisory share ranges from 57.4 percent at Jefferies to 26.7 percent at Bank of America.
Bank of America and the European banks sit at the other end. Debt issuance made up 51.6 percent of the fees of Bank of America before the self-led deduction in the first nine months of 2026, and debt capital markets 53.6 percent of the Barclays total. For Barclays and Deutsche Bank, debt underwriting was also the weak spot of 2026: Barclays debt capital markets income was 1.5 percent lower over nine months, while its advisory income rose 43.9 percent and equity capital markets 51.4 percent. JPMorgan is more balanced, with advisory at 37.7 percent of its first half fees and debt underwriting at 40.8 percent.
Advisory first: advisory brought in $4.53 billion, 47.8 percent of the total, against $4.93 billion for equity and debt underwriting combined.
| Bank | Advisory | Equity underwriting | Debt underwriting | Total of products | Advisory share |
|---|---|---|---|---|---|
| Goldman Sachs | $4,726 | $1,784 | $2,829 | $9,339 | 50.6% |
| Morgan Stanley | $2,888 | $1,965 | $2,766 | $7,619 | 37.9% |
| Bank of America (before self-led) | $1,890 | $1,259 | $3,698 | $6,847 | 27.6% |
| Citi | $1,908 | $699 | $2,011 | $4,618 | 41.3% |
| Jefferies (FY to Nov 2025) | $2,145 | $772 | $870 | $3,787 | 56.6% |
| Barclays | £676 | £278 | £1,510 | £2,464 | 27.4% |
| Deutsche Bank | €536 | €225 | €1,100 | €1,861 | 28.8% |
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Sources: 2025 full year releases and supplements of each bank. Citi labels its products Advisory, ECM and DCM; Deutsche Bank uses Advisory, Equity Origination and Debt Origination. Jefferies total excludes $3 million of other investment banking revenue. Shares are BusinessStats calculations.
What each bank reported and how it labels the number
JPMorgan Chase: largest in 2025, number one in the league table
JPMorgan reported consolidated investment banking fees of $9.615 billion in 2025 and $9.026 billion in the first nine months of 2026. Its Commercial and Investment Bank, which earns almost all of these fees, reported $3.0 billion in the third quarter of 2026, up 14 percent, and described investment banking revenue of $3.1 billion. Its quarterly filing for the first half of 2026 shows advisory fees up 48.7 percent to $2.286 billion and equity underwriting up 64.9 percent to $1.303 billion, while debt underwriting rose 5.4 percent to $2.477 billion. Debt is the largest product for JPMorgan, which explains why its growth was slower than at Goldman Sachs in an equity and advisory led year.
Goldman Sachs: the fastest grower among the largest banks
Goldman Sachs reports investment banking fees inside its Global Banking and Markets segment. Fees rose 20.8 percent to $9.339 billion in 2025, and the bank followed that with $2.840 billion, $3.395 billion and $3.224 billion in the first three quarters of 2026. Its 2025 total was within 3 percent of JPMorgan; in 2026 the order reversed, mainly because advisory fees grew by $1.16 billion and equity underwriting by $923 million over nine months. The bank warned that its backlog had declined since mid year.
Morgan Stanley: segment figure vs consolidated figure
Morgan Stanley reported Institutional Securities investment banking revenue of $7.619 billion in 2025, of which advisory was $2.888 billion, equity underwriting $1.965 billion and fixed income underwriting $2.766 billion. In the first nine months of 2026 the segment earned $6.712 billion, up 28.9 percent, with advisory up 51.7 percent. The third quarter was almost flat at $2.159 billion as equity underwriting fell to $525 million from $652 million on lower IPO and block activity. Its wealth business adds underwriting income that appears only in the consolidated line.
Bank of America: debt heavy and net of self-led deals
Bank of America shows a separate deduction for fees on deals where it underwrote its own securities. Total investment banking fees including self-led deals were $6.847 billion in 2025 and $6.630 billion after the $217 million deduction. In the first nine months of 2026 the net figure was $5.778 billion, up 16.4 percent, but third quarter fees fell to $1.799 billion from $2.013 billion as debt issuance fees dropped to $958 million from $1.109 billion. The fees are shared between its Global Banking and Global Markets segments.
Citi: fees vs the new investment banking revenue measure
Citi reported investment banking fees of $4.618 billion in 2025, up 19.7 percent, with advisory fees up 53 percent to $1.908 billion. From the second quarter of 2026 Citi changed the measure it highlights to investment banking revenue, which adds other fee revenue, principal transactions revenue and net interest income on loans linked to investment banking deals. On that basis it earned $4.224 billion in the first nine months of 2026, against $3.943 billion of investment banking fees, so the choice of measure moves Citi by $281 million.
Wells Fargo: growing from a smaller base
Wells Fargo reported $3.027 billion of investment banking fees in 2025, up 13.6 percent, and $2.629 billion in the first nine months of 2026, up 13.8 percent. Its Corporate and Investment Banking segment also shows a narrower investment banking revenue line of $1.841 billion for the nine months within its Banking business. Wells Fargo does not split its fees into advisory and underwriting in its quarterly supplement.
Jefferies: a different fiscal calendar
Jefferies has a fiscal year ending 30 November, so its periods do not line up with the calendar banks. Investment banking net revenues were $3.790 billion in fiscal 2025, of which advisory was $2.145 billion. In the nine months from December 2025 to August 2026 the total rose 36.6 percent to $3.556 billion, with equity underwriting up 127 percent. Its third quarter, June to August 2026, brought $1.331 billion, up 17.3 percent, led by advisory fees of $818 million.
Barclays, UBS and Deutsche Bank: Europe catches up in 2026
Barclays reports banking fees and underwriting within Barclays Investment Bank. The total fell 1.6 percent to 2.464 billion pounds in 2025 but rose 16.1 percent to 2.157 billion pounds in the first nine months of 2026; its rank among UK lenders by balance sheet is covered in our UK banks total assets ranking. Deutsche Bank renamed its Origination and Advisory line to Investment Banking and Capital Markets; revenue was 1.861 billion euro in 2025 and 1.543 billion euro in the first nine months of 2026, up 13.0 percent. UBS reports Global Banking revenue of $3.198 billion for 2025, down from $3.454 billion, and $670 million for the third quarter of 2026, down 21 percent on a record quarter a year earlier.
BNP Paribas is often named among the largest investment banks in Europe, and Dealogic places it at the top of the EMEA debt capital markets league table for 2025. It is not ranked here because its quarterly results report Global Banking revenues that combine lending, transaction banking and capital markets, and do not publish a separate advisory and underwriting fee total that could be compared with the figures above.
Five reasons the same bank can show different investment banking numbers
- Advisory: fees for mergers, acquisitions, divestitures and restructuring work, usually recognised when a deal completes.
- Equity underwriting: fees on IPOs, follow-on offerings, block trades and convertibles.
- Debt underwriting: fees on investment grade and high yield bonds and on syndicated and leveraged loans.
- Not included: trading revenue, lending income and wealth management fees, unless a bank chooses a wider measure.
- Segment scope. JPMorgan, Goldman Sachs and Wells Fargo report a firmwide fee line; Morgan Stanley reports Institutional Securities only ($7.619 billion in 2025) next to a consolidated $8.199 billion.
- Self-led deals. Bank of America removes fees on its own securities issues, $217 million in 2025; other banks do not show such a deduction.
- Fees vs revenue. Citi now highlights investment banking revenue, which was $281 million higher than its investment banking fees in the first nine months of 2026; UBS reports Global Banking revenue rather than fees.
- Fiscal calendars. Jefferies closes its year on 30 November, so its nine month figure runs from December to August.
- Currency. Barclays reports in pounds and Deutsche Bank in euro; any dollar ranking depends on the exchange rate used.
League table providers add a sixth difference. Dealogic and LSEG estimate the fee on every deal from public information and allocate it among the banks involved, so their totals include deals a bank may account for in another quarter and exclude some fees banks book. That is why the Dealogic estimate for Morgan Stanley in 2025, $6.10 billion, is $1.52 billion lower than the segment figure the bank reported, while for Citi the estimate of $4.94 billion is higher than its reported fees.
The global fee pool: what the data providers measured
Dealogic, part of ION Analytics, estimated global investment banking revenue at $102.9 billion in 2025, up 15 percent on 2024 and the second highest total on record after 2021. Global M&A volume rose 42 percent to $5.1 trillion, driven by megadeals, ECM revenue rose 18 percent on 21 percent higher issuance and syndicated loan volume rose 9 percent. Mergermarket, also part of ION Analytics, counted $4.44 trillion of announced M&A in the first nine months of 2026, 27 percent more than the $3.48 trillion a year earlier and close to the 2021 record for the period of $4.55 trillion, although the number of deals fell 1 percent to 32,419. Many of the largest 2025 and 2026 deals involved technology groups; their scale is covered in our big tech revenue comparison.
| Rank | Bank | IB revenue (US$ million) | Share of global total |
|---|---|---|---|
| 1 | JPMorgan | 8,601 | 8.4% |
| 2 | Goldman Sachs | 7,948 | 7.7% |
| 3 | BofA Securities | 6,158 | 6.0% |
| 4 | Morgan Stanley | 6,101 | 5.9% |
| 5 | Citi | 4,937 | 4.8% |
| 6 | Barclays | 3,025 | 2.9% |
| 7 | Jefferies | 2,972 | 2.9% |
| 8 | Wells Fargo | 2,689 | 2.6% |
| 9 | UBS | 2,179 | 2.1% |
| 10 | Deutsche Bank | 2,152 | 2.1% |
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Source: Dealogic (ION Analytics), Quarterly Rankings, IB Revenue, Full Year 2025 (January 2026). These are Dealogic estimates, not figures reported by the banks. The top ten together held 45.4 percent of the $102.9 billion total (BusinessStats sum).
Estimates run lower: for six of the seven US banks the Dealogic estimate is below the reported figure, by up to $1.52 billion for Morgan Stanley; Citi is the exception.
The two sources agree on the leader for 2025, JPMorgan, and on the fact that the five largest US banks dominate the business. On Dealogic numbers the top five held 32.8 percent of the global fee pool in 2025 and the top ten 45.4 percent, which leaves more than half of the pool to regional banks, boutiques and Asian houses. Equity issuance depends on stock market valuations, which are tracked in our pages on global equity market capitalization by region and stock markets by country. New York and London, where most of these fees are earned, lead the Global Financial Centres Index.
How this ranking was compiled
Every bank figure on this page comes from documents published by the bank itself: earnings releases, quarterly financial supplements, Forms 8-K, 10-Q and 6-K filed with the US Securities and Exchange Commission, and investor relations releases. Full year 2025 figures come from fourth quarter 2025 releases published in January and February 2026. Year to date 2026 figures come from third quarter releases published between 13 and 28 October 2026 (Jefferies on 28 September 2026 for its quarter to 31 August).
For each bank we used the line that the bank itself presents as its investment banking fee or revenue total: the consolidated line for JPMorgan, Goldman Sachs and Wells Fargo, the Institutional Securities segment for Morgan Stanley, the total net of self-led deals for Bank of America, the Banking segment fee line for Citi, banking fees and underwriting for Barclays, Investment Banking and Capital Markets for Deutsche Bank and Global Banking revenue for UBS. Product splits use the categories each bank publishes. Growth rates, shares, sums of quarters and currency conversions are BusinessStats calculations. Conversions to dollars use the Federal Reserve G.5A annual averages for 2025 (1.3192 dollars per pound and 1.1306 dollars per euro) and are applied only to full year figures.
Market totals and league table estimates from Dealogic and Mergermarket are labelled as such and are never mixed with reported figures in the same ranking. Where a figure could not be confirmed in a primary document, such as a nine month Global Banking total for UBS or a third quarter product split for JPMorgan, it is left out rather than estimated. The previous edition of this page ranked Goldman Sachs at about 9 billion dollars and JPMorgan at about 8.5 billion dollars for 2025, gave a global fee pool of more than 130 billion dollars and said the top five US banks held 55 to 60 percent of it; these figures have been replaced with the reported and Dealogic values above. For a broader view of where these banks sit in the markets, see our financial markets hub and the list of top companies by market capitalization.
Investment banking fees in eight numbers
Questions about the investment banking revenue ranking
It depends on the period. On reported fees JPMorgan Chase was first in 2025 with $9.615 billion, ahead of Goldman Sachs with $9.339 billion. In the first nine months of 2026 Goldman Sachs led with $9.459 billion against $9.026 billion for JPMorgan. On Dealogic estimates JPMorgan was first in 2025 with $8.6 billion and held a 9.2 percent wallet share in 2026 to 1 October.
Goldman Sachs reported investment banking fees of $9.339 billion in 2025, up 21 percent from $7.732 billion in 2024. Advisory brought in $4.726 billion, equity underwriting $1.784 billion and debt underwriting $2.829 billion.
JPMorgan Chase reported consolidated investment banking fees of $9.615 billion in 2025, up 7.9 percent, and $9.026 billion in the first nine months of 2026, up 23.8 percent. Third quarter 2026 fees in its Commercial and Investment Bank were $3.0 billion, up 14 percent.
Dealogic estimated global investment banking revenue at $102.9 billion in 2025, up 15 percent on 2024 and the second highest on record after 2021. The ten largest banks held 45.4 percent of that total.
Advisory fees are paid for advice on mergers, acquisitions and restructurings. Underwriting fees are earned for arranging and selling new shares (equity underwriting) or bonds and loans (debt underwriting). At Goldman Sachs advisory was 47.8 percent of fees in the first nine months of 2026, at Bank of America 26.7 percent.
Among the European banks in this ranking, Barclays reported the largest total for 2025 with 2.464 billion pounds of banking fees and underwriting, about $3.25 billion at the 2025 Federal Reserve average rate. UBS reported $3.198 billion of Global Banking revenue and Deutsche Bank 1.861 billion euro.
League tables such as Dealogic estimate the fee on each deal from public information and split it among the banks involved. Banks report the fees they recognised, under their own segment definitions. For 2025 Dealogic estimated Morgan Stanley at $6.10 billion while the bank reported $7.619 billion for Institutional Securities.
Yes, so far. The five largest US banks reported $34.92 billion of investment banking fees in the first nine months of 2026, 26.7 percent more than a year earlier, and Mergermarket counted 27 percent more M&A value. The third quarter was slower for some banks: Bank of America fees fell 10.6 percent and UBS Global Banking revenue fell 21 percent.
Goldman Sachs: Third quarter 2026 earnings results, Form 8-K, October 2026 (quarter and nine month investment banking fees by product, backlog).
Goldman Sachs: Second quarter 2026 earnings results, July 2026 (1Q26 and 2Q26 fees).
Goldman Sachs: Fourth quarter and full year 2025 results, 15 January 2026.
JPMorgan Chase: Earnings release financial supplement, third quarter 2026, and the 3Q26 earnings release (CIB fees, Dealogic wallet share).
JPMorgan Chase: Earnings release financial supplement, fourth quarter 2025 (2025 and 2024 fees).
JPMorgan Chase: Form 10-Q for the quarter to 30 June 2026, noninterest income note (fees by product), and the 10-Q for the quarter to 30 September 2025.
Morgan Stanley: Financial supplement, third quarter 2026, and the fourth quarter and full year 2025 earnings release.
Bank of America: Supplemental information, third quarter 2026, and the fourth quarter 2025 supplemental information.
Citigroup: Quarterly financial data supplement, third quarter 2026, the 3Q26 earnings release and the 4Q25 earnings release.
Wells Fargo: Quarterly financial supplement, third quarter 2026, and the fourth quarter 2025 supplement.
Jefferies Financial Group: Fourth quarter 2025 financial results, 7 January 2026, and the third quarter 2026 results release, 28 September 2026.
Barclays PLC: Results announcement for the nine months to 30 September 2026, Form 6-K, and the full year 2025 results announcement.
Deutsche Bank: Financial data supplement Q4 2025, plus the Q1 2026 results, Q2 2026 release and Q3 2026 release.
UBS Group: Fourth quarter 2025 report, Form 6-K, and the 3Q26 earnings call transcript, 29 October 2026.
Dealogic (ION Analytics): Quarterly Rankings, IB Revenue, Full Year 2025, and Global Markets Rankings FY2025.
Mergermarket (ION Analytics): M&A Highlights 9M26, 1 October 2026.
Federal Reserve Board: G.5A Foreign Exchange Rates, annual averages for 2025, 5 January 2026.