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China’s IBs challenge global rivals for revenue

Year-end markets boom continues; JPMorgan reaches the top

Chinese securities firms are starting to make more money from investment banking than some of their global rivals do in Asia, according to figures from Dealogic.

The league table for core investment banking revenues generated in Asia ex-Japan in 2010 to October 15 shows CICC, a Beijing-based investment bank, in fifth place, with estimated revenues of $225 million. That puts the firm, which generated almost all of those revenues by acting as a bookrunner for Chinese companies issuing equity and debt, above sixth-placed Deutsche Bank and eighth-placed Credit Suisse. CICC rival Citic Securities ranked seventh, while Bank of China and Ping An’s own securities firms rounded out the Chinese presence in the top 10.

Asia (ex Japan) Core IB Revenue Ranking
2010 YTD
Pos. All advisor parent Deal value ($mln) % share
1 JPMorgan 272 4.4
2 Morgan Stanley 265 4.3
3 Goldman Sachs 246 4.0
4 UBS 234 3.8
5 China International Capital Corp 225 3.6
6 Deutsche Bank 224 3.6
7 Citic Securities 202 3.3

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