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March 11, 2016

By Bahareh Khezr

41%: US banks’ share of European core IB revenue

Core Investment Banking (M&A/ECM/DCM) revenue from European clients totals $2.5bn in 2016 YTD, down 21% from $3.2bn last YTD. US banks account for 41% of European core IB revenue in 2016 YTD, up from 36% last YTD and is the highest since 2000 YTD.

Additionally, US banks account for the top three banks for European core IB revenue in 2016 YTD and the three account for 23% of the wallet.

54%: European banks’ share of revenue

Conversely, European banks account for 54% of European core IB revenue in 2016 YTD, down from 59% in 2015 YTD and is the lowest wallet share since 2000 YTD (also 54%). Five of the top 10 banks are European and these five banks account for 21% of total fees. However European banks account for 68% of European ECM and DCM revenue, versus 24% for US banks, in 2016 YTD. Deutsche Bank leads the European Capital Markets (ECM/DCM) ranking in 2016 YTD with a 7.9% wallet share, followed by Barclays (7.1%) and HSBC (6.6%). Last YTD Goldman Sachs led the European Capital Markets rankings with an 8.1% wallet share, driven by its 17.5% wallet share and number one ranking in ECM.

M&A: US banks take majority of revenue

US banks account for 61% of European M&A revenue in 2016 YTD, their highest share on record, and up from 49% in 2015 YTD. European banks account for only 37%, down from 47% in 2015 YTD. JPMorgan ranks first with an 11.9% wallet share, followed by Goldman Sachs (11.5%) and Bank of America Merrill Lynch (8.0%).

JPMorgan: lead bank for European core IB revenue

JPMorgan leads the European core IB revenue ranking in 2016 YTD with an 8.5% wallet share. Goldman Sachs(7.8%) and Bank of America Merrill Lynch (6.8%) round out the top
three.

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