At the end of 2010, JP Morgan (NYSE:JPM) reigned as the biggest Wall Street firm (bank or broker) in the country. After declining 22% in 2011, JP Morgan has given up its top spot to Wells Fargo (NYSE:WFC), which also fell in 2011 but by a lesser amount than JPM.
Below is a list of the 20 largest banks and brokers in the S&P 500 (sorted by current market cap). Just TWO of the companies on the list are currently worth more than $100 billion (WFC, JPM).
Along with the fact that Wells Fargo is now the biggest Wall Street firm, the current market caps of Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS) are also eye-openers. Bank of America is now worth just $55 billion, Goldman Sachs is only $46 billion, and Morgan Stanley is just $29 billion. Wells Fargo is currently bigger than Bank of America, Goldman Sachs and Morgan Stanley COMBINED.