Seeking Alpha

JPMorgan holds #1 spot in shrinking investment banking pie

  • JPMorgan's (JPM) Q1 investment banking revenue, according to Coalition, keeps the bank ahead of rivals like GS, DB, BAC, and C - all of whom tied for 2nd - but the amount of $5.9B was nearly 15% lower than the $6.9B posted a year ago.
  • Revenue in fixed income, commodities, and currencies (FICC) of $3.2B put JPMorgan in the top spot in that category, but this figure was down more than 25% from 2013.
  • In equities, JPMorgan's $1.4B in revenue tied it with Morgan Stanley (MS) for first place. In advisory business, it was Goldman Sachs and BAML - each bringing in about $1.5B - which led the way.
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Comments (9)
  • funfun
    , contributor
    Comments (3557) | Send Message
    After settling much of its major legal problems efficiently and effectively, the leadership of JP Morgan can focus intensely on the investment business at hand, while the muddled Management of Bank of America is distracted and diverted by the intractable serial fraud of years past. …funfun..
    18 Jun 2014, 07:48 AM Reply Like
  • Tom Sr
    , contributor
    Comments (298) | Send Message
    (All I, we, us, and other such as our views are)


    I knew it. You're getting ready to buy again. And with your self...oh sorry...we/self declared 100% winning track record.... "we have traded BAC several times this year, all profitably". I mean how can you lose. You certainly like to buy BAC; that CHEAT TO COMPETE bank with it's culture of fraud. Is there any DNA in those I/we/our/us that relates to fraud and thus can profit by trading fraud driven businesses.


    Carry on
    And oh how you love to carry on and on..
    18 Jun 2014, 11:29 PM Reply Like
  • dictionshunary
    , contributor
    Comments (496) | Send Message
    We totally and absolutely disagree with funs constant attacks on BAC mgmt. BAC is a dominant banking institution and the most recognized banking institution in the world. The hoops they were forced to jump through and the anti business regulations thrown at them have been handled well by mgmt. BAC will soar from the current level due to good management practices. We have and will continue to recommend BAC to our clients and forecast mid to high 20s by the end of the year. An easy double from there will be seen several years out. BAC mgmt should be applauded for how they have managed things. When anti business forces are constantly in the way of progress bold measures must be taken and we are totally supportive of decisions made. Buy BAC and stay long.
    18 Jun 2014, 08:08 AM Reply Like
  • papayamon
    , contributor
    Comments (1195) | Send Message
    I would agree. The sheer lack of logic is staggering. It is beyond common knowledge that BAC's current management had nothing to do with the problems at acquired entities. How this equates to "intractable serial fraud" is simply delusional.
    18 Jun 2014, 09:28 AM Reply Like
  • funfun
    , contributor
    Comments (3557) | Send Message
    Fellow Investors,


    The avid fans and ardent friends of Bank of America on numerous occasions in these Seeking Alpha forums have insisted that current Management had absolutely nothing to do with those nasty legal problems way back in distant memory, 6 to 7 years ago, which have cost BAC shareholders $60 billion to date. They pretend that CEO Brian Moynihan rode in on a white horse, pure and innocent, and took the reins of CEO on January 1, 2010.


    Well guess what? Mr. Moynihan joined Bank of America in 2004 when Fleet Boston was acquired and became the Bank's President of Global Wealth & Investment Management. From 2008 to Jan. 2009 he was General Counsel to the Bank before becoming CEO of Merrill Lynch.


    Surely he must have been aware of the some of the deep and dirty misconduct going on right under his nose. Or is Mr. Moynihan like Ms. Barra, Chieftess of General Motors, who insists she is totally innocent and ignorant of those deadly defects in millions of her shoddily built GM cars she oversaw as Executive V. P. of Global Product Development at GM?


    Don't let the PR tricksters in Charlotte, North Carolina fool you nor passionate BAC shareholders!


    Carry on…funfun..
    18 Jun 2014, 09:41 AM Reply Like
  • Phr3d
    , contributor
    Comments (330) | Send Message
    funfun - while i have agreed with some specific points that you have made about BAC, I find your constant commentary on the subject to be rather shrill and tiring.


    Your statement "settling much of its major legal problems efficiently and effectively" above seems to indicate that you believe that JPM does not share BAC's negative history in any way, which for some would further dent your credibility.. there are many ex-JPM shareholders that hold them in the same regard as you hold BAC, just in case you missed the last 18 months.


    Suggest that you move to USB, (media-invisible as they haven't garnered the headlines of the original big three) and put past to your rants.
    18 Jun 2014, 02:19 PM Reply Like
  • dictionshunary
    , contributor
    Comments (496) | Send Message
    Thanks phr3d, I have complained many times to SA moderators about funs rants but they tend to side with him making some think he is they! We continue to recommend BAC and have total confidence in BAC management . One only has to consider all the negative regulations they must maneuver and you'll agree they are more than competent. Buy and stay long for the next couple of years and you will be very happy with the decision. Don't base any decision on all the technical mumbo jumbo.
    18 Jun 2014, 02:28 PM Reply Like
  • Scoreboard
    , contributor
    Comments (161) | Send Message
    I agree with dictionshunary, and Phr3d in their assessment of BAC and of certain commentary that is obviously agenda driven.
    -Average loans and leases for BofA keep going up approximately 11% with the bank posting $271 billion in 2013 vs. $244 billion in 2012.
    -Deposits are up nearly 16% - growing from $221 billion in 2012 to $256 billion in 2013.
    -BofA is still the largest retail deposit market share in the U.S. with approximately 49 million consumer and small business relationships. It's No. 3 in U.S. credit cards. It's No. 1 in online banking functionality with over 30 million online banking customers
    -Vastly improving net income and EPS
    -Net income was up nearly threefold year-over-year with the bank posting $11.4 billion in 2013 vs. $4.2 billion in 2012. Furthermore, diluted EPS was up significantly year-over-year at 0.90 for 2013 vs. 0.25 in 2012.


    Now, individuals can use this forum to conduct a campaign of name-calling if they like. It seems inappropriate. Usually it is these same people who complain if "abusive and personal" remarks are directed toward THEM. Perhaps we can stick with fundamental economic and financial analysis and stop with the name-calling and inflammatory language that would be more appropriate in a grade-school setting. There is so much good information (both positive and negative toward BAC) that is written about and discussed in this forum - it is such a shame to have to put up with the "shrill and tiring" type rants that Phr3d speaks of. I added quite a bit more to my position at $6.00... seems to be working out ok for me. Time will tell.
    18 Jun 2014, 04:16 PM Reply Like
  • funfun
    , contributor
    Comments (3557) | Send Message
    Folks, whether they like it or not, we not about to be shut down and shut up by hecklers frantic to protect and promote Bank of America with any diversionary tactic and ad hominem attack.


    We will continue to assess and question the performance and quality of the leadership of this General Motors of banking institutions and opine. We believe tenaciously that superior leadership can make or inferior leadership can brake or break an enterprise as surely shareholders in Berkshire Hathaway, Glacier Bancorp, U. S. Bancorp, Wells Fargo, as well as the shareholders in WorldCom and ENRON and Bethlehem Steel and Eastman Kodak know well.


    19 Jun 2014, 07:19 AM Reply Like
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