In a repeat of the previous year's results, the U.S. bank came ahead
of rivals Goldman Sachs, Deutsche Bank, Bank of America Merrill
Lynch and Citi, which all tied for second place, according to
industry analytics firm Coalition.
Morgan Stanley finished sixth, while Barclays and Credit Suisse came
Coalition, which only gives revenue figures for the top-ranked bank
in categories including equities and advisory, said that JPMorgan's
investment banking revenue in the first quarter fell by almost 15
percent from $6.9 billion in the same period last year.
Most investment banks have seen trading revenues slump over the past
year amid a low interest rate environment and tougher regulations
requiring them to hold more capital, which have driven down returns.
A number are reducing their operations and cutting jobs as a result.
Barclays said last month 7,000 jobs are to go at its investment bank
and the head of investment banking at JPMorgan, Daniel Pinto,
recently told Reuters that the bank would be "laser-focused" on cost
Coalition said turnover at JPMorgan's fixed income, commodities and
currencies (FICC) division was $3.2 billion in the January to March
period, down by more than a quarter from the previous year. The
figure was enough to keep it in the top spot in Coalition's league
table in FICC, alongside Deutsche Bank and Citi.
It also came joint first for equities revenues with fellow U.S. bank
Morgan Stanley, earning $1.4 billion.
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Goldman Sachs and Bank of America Merrill Lynch came out on top in
advisory. The two earned around $1.5 billion for their work
assisting companies with mergers and acquisitions and other
Coalition tracks the performance of Bank of America Merrill Lynch,
Barclays, BNP Paribas, Citi, Credit Suisse, Deutsche Bank, Goldman
Sachs, JPMorgan, Morgan Stanley and UBS - the 10 largest investment
Its rankings are based on public information such as banks' results
and benchmarked to a common standard to produce a top 10 league
(Reporting by Clare Hutchison; Editing by Greg Mahlich)
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