The firm took in $3.97bn in fees last year, a 24.8% increase over 2011.
JPMorgan has topped the Bloomberg 20 in four of the past five years, and last year it was the top investment bank in debt and equity fees as well as overall. Goldman Sachs Group Inc. (GS) ranked No. 2, after scoring the No. 1 spot for 2011. Goldman led the ranking for M&A fees, as it has every year since the Bloomberg 20 began.
While fees for M&A and equity issuance fell for 2012, total fees rose 3.7%, to $50.9bn, driven higher by a surge in the refinancing of corporate debt.
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