Investment Banking on Track for Worst Streak in Over a Decade
Overview & ContextInvestment banking—the engine of Wall Street advisory revenue—is enduring its bleakest streak since at least 2014. For the 14th consecutive quarter, it is contributing less than 25 percent of total revenues at the five largest U.S. banks: JPMorgan, Bank of America, Citigroup, Goldman Sachs, and Morgan Stanley. During the same period, trading revenue has…