How Have Equity Underwriting Fees For The 5 Largest U.S. Investment Banks Changed Since 2010?

After growing steadily over 2012-2014, equity underwriting fees at the five largest U.S. banks fell sharply in 2015. These fees largely mirror the overall performance of global equity markets in a particular year, as companies often choose not to raise money through IPOs when equity market valuations are depressed. Notably, the top four ranked U.S. banks appear to have a roughly equal share of the market. ($ billion) 2010 2011 2012 2013 2014 2015 Goldman Sachs 1.46 1.09 0.99 1.66 1.75 1.55 JPMor...