The largest investment banks on Wall Street are preparing to report the highest investment banking fee revenues in more than four years, driven by the record-setting offering of SpaceX and a recovery in mergers and acquisitions. Financial Times: SpaceX listing boosts Wall Street bank profits

The Financial Times predicted that JPMorgan, Goldman Sachs, Morgan Stanley, Bank of America and Citigroup would record a 27% increase in investment banking fees in the second quarter, reaching about $11.1 billion, the highest level since 2021.

The jump was driven by revenues from public offerings, notably the listing of SpaceX, which generated about $500 million in fees for participating banks, with Goldman Sachs and Morgan Stanley each receiving about $100 million.

According to the newspaper, merger and acquisition fees are also expected to rise more than 30% to over $4 billion, with the return of large deals exceeding $10 billion.

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