JP Morgan Chase & Co (NYSE: JPM) has collected more in fees from underwriting equity and equity linked offerings than any other firm according to an annual ranking of investment-banking fees from Bloomberg Markets’.
The company took in a total of $2.19 billion worth of fees in 2009, beating out Goldman Sachs (NYSE: GS) which earned $2.17 billion and Bank of America (NYSE: BAC) which earned $1.91 billion
The report also stated that banks, brokers and insurance companies raised $370 billion worth of sales from common stock or convertible securities last year.
Emerging markets had a banner-year for investment banking. For the first time, initial public offerings in developing nations brought in more money than those industrialized countries, according to data from Bloomberg, which began collecting these statistics in 2000. Companies in developing countries earned $77 billion in IPOs compared with $48 billion from industrialized nations. Deals from emerging-markets comprised nine out of the world’s ten largest IPOs, with six coming from China alone.
“While there was this massive recapitalization of the banks, much of the excitement was coming out of Asia and the emerging markets,” says Lisa Carnoy, co-head of global capital markets at Bank of America Merrill Lynch. She added, “Those markets are booming.”
