Investment Banking

Bank of America’s 41% deal fee slump beats Wall Street rivals

The lender climbed from fourth to third in the investment banking fee league tables, maintaining a market share of around 6%

Bank of America chief executive Brian Moynihan: 'We ended the year on a strong note growing earnings year over year in the 4th quarter in an increasingly slowing economic environment'
Bank of America chief executive Brian Moynihan: 'We ended the year on a strong note growing earnings year over year in the 4th quarter in an increasingly slowing economic environment' Photo: Getty Images

Bank of America's dealmakers maintained an edge on Wall Street rivals during a torrid year for investment banking, but fees still slid by 41% from a year earlier.

The US bank made $3bn from investment banking activity last year. This was a 41% decline, but the fall was not as sharp as many of its rivals including JPMorgan, which saw dealmaking revenue slump by 50% last year.

WSJ Logo
Pro Bono or Pro Nono? Law Firms Split on Fulfilling Deals With TrumpExternal link

Pro Bono or Pro Nono? Law Firms Split on Fulfilling Deals With Trump