JPMorgan keeps top spot in investment banking: study

LONDON Thu Mar 14, 2013 6:39am EDT

JPMorgan Chase & Co's international headquarters are seen on Park Avenue in New York July 13, 2012. REUTERS/Andrew Burton

JPMorgan Chase & Co's international headquarters are seen on Park Avenue in New York July 13, 2012.

Credit: Reuters/Andrew Burton

LONDON (Reuters) - JPMorgan Chase (JPM.N) kept its top spot for investment banking revenues last year while Citigroup (C.N) and Barclays (BARC.L) showed the biggest improvement compared with 2011, a study showed on Thursday.

Industry analytics firm Coalition said JPMorgan's investment banking revenues of $24.1 billion put it ahead of second-placed Goldman Sachs (GS.N) and a trio of banks shared third place - Bank of America Merrill Lynch (BAC.N), Citi and Deutsche Bank (DBKGn.DE). Barclays ranked sixth.

Coalition last month estimated 2012 revenues for the investment banks in its study were $159 billion, up 10 percent from the year before, led by a 21 percent jump in the core area of fixed income, currencies and commodities (FICC).

Investment banks have put more emphasis on league tables in recent years as tougher regulation and slower markets have left banks jostling for market share and firms like UBS UBSN.VX and RBS (RBS.L) exiting or shrinking unprofitable areas.

Coalition said JPMorgan was the top bank in FICC with revenues of $14.4 billion, followed by Citi and Deutsche Bank.

Goldman topped equities rankings with $5.6 billion of revenue, followed by JPMorgan and Morgan Stanley (MS.N).

Advisory and origination was led by JPMorgan, with revenues of $5.2 billion, followed by BAML and Goldman, according to Coalition's estimates.

Coalition says its study is based on public information from banks' results and benchmarked to a common standard to produce a top 10 league table.

(Reporting by Steve Slater)

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