League tables: Bank consolidation hardens top-10 dominance

January 30, 2009

Consolidation among investment banks has had a big impact on the equity capital markets league table results in 2008 and will do so again in 2009.

Global ECM volume top 10
Rank	Bookrunner parents	Deal value $mln	No.	% share
1	JPMorgan	73,570	179	11.6
2	Goldman Sachs	61,224	126	9.7
3	Merrill Lynch	52,531	135	8.3
4	Citi	49,696	149	7.8
5	Morgan Stanley	47,076	134	7.4
6	UBS	40,269	163	6.4
7	Credit Suisse	32,109	117	5.1
8	Bank of America	28,150	60	4.4
9	Deutsche Bank	25,707	107	4.1
10	Barclays Capital	25,056	52	4.0
	Subtotal	435,389	776	68.6
	Total	634,409	2,995	100.0
Source: Dealogic

JPMorgan received a boost from its acquisition of Bear Stearns, and Lehman Brothers dropped out of the picture to be replaced by Barclays Capital, a new face in equity capital markets.

League tables: Bank consolidation hardens top-10 dominance

Consolidation among investment banks has had a big impact on the equity capital markets league table results in 2008 and will do so again in 2009.

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