Bloomberg reports that in equity underwriting many still regard Goldman as the best and Salomon Smith Barney has the most lucrative securities business.
JP Morgan Chase has slipped to a lowly ninth this year in stock sales among Wall Street's leading banks. It's number five in corporate takeovers. Having said this, the bank has participated in more merger deals than any other this year, even though the values are low as it has focused on smaller companies. It has also maintained its position as top loan arranger and number two bond underwriter. It is hoping to leverage up on this business to win more investment banking deals in future.
JP Morgan Chase is not yet mentioned in the same breath as Goldman, Merrill or Morgan Stanley. It has the franchise, however, and, if Coulter gets it right, it might not be long before it is up there in the premier league.
JP Morgan Will Need To Take On Rivals
JP Morgan has a new man running its investment banking business. But David Coulter has a big job on his hands as the bank is a bit behind several rivals.
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