What they said about CIB in 2018
The biggest dozen global investment banks have now reported their results: here's what their execs said about each of your businesses
FY18 vs FY17 % change heatmap
1 CIB is ICS+IB at GS, IS at MS, GB+GM at BAML, CIB at JPM, ICG at Citi, CIB at DB, CIB at BARC, IB at UBS, GBM at HSBC, GMIS+F&A at SG, CIB-related at CS, CIB at BNPP
2 BARC, BNPP, SG and HSBC do not break out DCM/ECM/Adv revenues
Source: Euromoney, bank results announcements
What they said about…ADVISORY
(Percentage change figures are 4Q18 vs 4Q17, then FY18 vs FY17)
Bank of America Merrill Lynch (-7%, -26%): Slightly up in 4Q, but lower for the year.
Barclays (n/a): A record year for the fourth year in a row, but was more than offset by the falling in underwriting fees.
Citi (+47%, +16%): Strong 4Q growth but offset by a decline in underwriting. Gained share.
Credit Suisse (+35%, +24%): A higher 4Q was driven by higher client activity in the Americas.
Deutsche Bank (+17%, -3%): 4Q was the best quarter for three years, but more than offset by the decline in DCM.
Goldman Sachs (+56%, +10%): Up on industry-wide and increases in completed M&A.
JPMorgan (+38%, +17%): A record year for advisory fees (and a record for total IB fees).