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Capital Markets

Debt capital markets: Winners were also losers

The primary market share of the top 10 global debt houses declined substantially in 2008, according to full-year figures released last month by Dealogic.

Global DCM revenue rankings 2008
Rank Bank Revenue ($mln) % share
1 JPMorgan 1,033 7.6
2 Citi 860 6.3
3 Barclays Capital 856 6.3
4 Merrill Lynch 710 5.2
5 Bank of America 645 4.7
6 UBS 622 4.6
7 Deutsche Bank 615 4.5
8 Credit Suisse 606 4.4
9 RBS 544 4.0
10 Morgan Stanley 543 4.0
Subtotal 7,035 51.6
Total 13,743 100.0
Source: Dealogic
Global DCM volume 2008
Rank Bookrunner 2008 2007
Deal value $mln % share Rank Deal value $mln % share
1 Barclays Capital 368,765 8.3 1 584,342 9.6
2 JPMorgan 350,628 7.9 2 570,648 9.4
3 Deutsche Bank 252,909 5.7 4 413,069 6.8
4 Citi 250,621 5.7 3 436,804 7.2
5 RBS 217,186 4.9 9 267,855 4.4
6 Merrill Lynch 214,926 4.9 5 378,858 6.2

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