Following are the world’s top 10 investment banks in terms of investment banking revenue. The five largest investment banks are American financial institutions. The list also includes UK, German and Swiss investment banks.

J.P. Morgan

J.P. Morgan is the largest largest investment bank in the world, with a market share of about 9% and investment banking revenue of $7.2 billion in 2019. JP Morgan business areas include investment banking, asset management, markets and treasury services, private banking, brokerage, wealth management, securities, and merchant and commercial banking. The investment services cover all asset classes including fixed income, equity, multi-asset solutions, alternative investments and money market. JP Morgan was awarded as the Best Investment Bank in the World, Best Investment Bank in North America and Best Investment Bank in the U.S. by Global Finance. JPMorgan Chase is one of the oldest financial institutions with history traced back to 1799.

Goldman Sachs

The Goldman Sachs Group (NYSE:GS), with investment banking revenue of $6.8 billion in 2019, is the second-largest investment bank in the world. Headquartered at 200 West Street, New York City, it operates a network of branches and offices in all major financial centers worldwide including London, Frankfurt, Paris, Tokyo, Hong Kong, Shanghai, Singapore, Dubai, Sydney, Melbourne, Zurich, Toronto, Los Angeles, San Francisco, Amsterdam and Vancouver. The company was named Best M&A Bank and Best Equity Bank by Global Finance. As of March 16, 2020, Goldman Sachs had a market capitalization of $64 billion.

Morgan Stanley

Morgan Stanley is a global investment bank with branches in over 40 countries and 60,000 employees. Located in New York, it maintains its principal offices in major financial centers around the world including London, Tokyo and Hong Kong. It is active in the following business areas: Investment Management, Institutional Securities, and Wealth Management. The total investment banking revenue of $6.2 billion in 2019 decreased by 5% versus the prior year according to full year earnings results. The company’s investment banking ranks #1 in global IPOs, global equity and global completed M&A. James P. Gorman is Chairman and Chief Executive Officer (CEO) of Morgan Stanley.

Bank of America

Bank of America Corporation is a multinational financial services provider offering a complete range of products and services including investment and corporate banking, deposit and mortgage products, personal and auto loans, insurance, trading, brokerage, credit cards and other services. The company’s total investment banking fees, excluding self-led deals, increased by 6 percent to $5.6 billion in 2019 from $5.3 billion in 2018. Bank of America rebranded its investment banking arm Bank of America Merrill Lynch to BofA Securities.

Citigroup

Citigroup Inc, located in New York, is an American financial services company and investment bank. The investment banking revenue was $5.2 billion in 2019 according to annual report. For the year ended December 2019, the company reported total revenue of $74.3 billion, net income of $19.4 billion, deposits $1.1 trillion, net loans of $687 billion and total assets of $1.951 trillion. With over 200,000 employees, Citi is one of the big four banks in the U.S. and the third largest bank in the nation by assets. Citi was named World’s Best Investment Bank by Euromoney as well as Best Global Private Bank by The Banker.

Barclays

Barclays Investment Bank (previously Barclays Capital) is an investment arm of Barclays plc, the second largest British bank by total assets. It provides a broad array of products and services for corporations, financial institutions and governments worldwide. Barclays Investment Bank, headquartered in London, has offices in 30 countries and employs more than 20,000 people. The company’s global investment banking revenue was $3.2 billion in 2019 according to Dealogic. Barclays was named Best Investment Bank in the United Kingdom and Western Europe by Euromoney magazine.

Credit Suisse

Credit Suisse Group, headquartered in Zurich, is a Swiss global investment bank operating through three business segments: International Wealth Management, Asia Pacific and Swiss Universal Bank. These segments are supported by two other businesses engaged in investment banking: Global Markets, and Investment Banking & Capital Markets. For the twelve months 2019, the company recorded net income attributable to shareholders of US$3.5 billion. Assets under management were US$1.55 trillion. It was awarded as the most innovative investment bank for leveraged finance and securitization by The Banker as well as Best Investment Bank in Asia by Global Finance and Capital Asia. Credit Suisse is top 2 in investment banking revenue in Asia Pacific region excluding Japan and China Onshore.

Deutsche Bank

Deutsche Bank (DB) is the leading financial institution in Germany and one of the largest European investment banks with approximately $2.2 billion in investment banking revenue. It operates in three main business areas: Private and Commercial Bank, Corporate and Investment Bank, and Deutsche Asset Management. With over 20 million customers and 97,000 employees, DB’s global network spans about 60 countries across Europe, South and North America and Asia Pacific. As of January 14, 2020, the company had a market capitalization of US$18 billion.

Wells Fargo

Wells Fargo & Co (NYSE: WFC) is one the world’s leading banks by assets and market capitalization. It offers banking and investment services through offices in nearly 40 countries. The company’s main business areas are Community Banking, Wholesale Banking, and Wealth and Investment Management. In 2019, Wells Fargo generated investment banking fees of about $2.0 billion. Charles W. Scharf is CEO (chief executive officer) and president of Wells Fargo. He formerly was the CEO of BNY Mellon and Visa Inc, and was CFO of Citigroup's investment banking business, Bank One Corp and Salomon Smith Barney. He is also a Microsoft Corporation board member.

RBC Capital

RBC Capital Markets (RBCCM) ranks as one of the top 10 global investment banks by revenue for the last eight years. It is a premier global investment bank with over 7,800 employees and a network of more than 65 offices in North America, Europe, the United Kingdom and Asia. RBC Capital Markets is a subsidiary of Royal Bank of Canada.

Jefferies Financial Group

Jefferies Financial Group (formerly known as Leucadia National Corp) is an American full-service global investment bank based in New York with regional head offices in London and Hong Kong. It provides a complete range of advisory and capital markets services across most industry segments in America, Europe and Asia through offices in 30 cities. In 2019, the total investment banking revenues reached $1.5 billion, a 20% decrease compared with $1.9 billion in 2018. The company was founded in 1962 and employs 4,800 staff.

List of the Top 100 Investment Banks

ABN AMRO
Allen & Company
APP Securities Pty
Bank of America
Barclays Investment Bank
BB&T Corporation
Berkery, Noyes & Co.
BG Capital
Blackstone
BMO Capital Markets
BNP Paribas
Cantor Fitzgerald
Capstone Partners
Centerview Partners
China International Capital
CIBC World Markets
Citigroup
CITIC Securities International
CLSA Limited
Commerzbank
Corporate Finance Associates
Cowen Inc. (formerly Cowen Group)
Credit Agricole CIB
Credit Suisse
CSG Partners
Daewoo Securities
Deutsche Bank
Duff & Phelps
Europa Partners
Evercore Partners
Financo, Inc.
Gleacher & Company
Goldman Sachs
Greenhill & Co.
Guggenheim Partners
Guosen Partners
Houlihan Lokey
HSBC Holdings PLC
Imperial Capital
ICBC, China
ICICI Bank
J.P. Morgan
Jefferies & Co.
Keefe, Bruyette & Woods (KBW)
KeyBanc Capital Markets
Ladenburg Thalmann
Lancaster Pollard
Lazard Ltd (formerly Lazard Freres & Co)
Lincoln International
Macquarie Group
Maple Capital Advisors
Marathon Capital
McColl Partners
Mediobanca
Miller Buckfire & Co.
Mitsubishi UFJ Financial
Mizuho Financial Group
Moelis & Company
Montgomery & Co.
Morgan Keegan & Co
Morgan Stanley
Needham & Co.
National Bank Financial
Nomura Holdings
Oppenheimer & Co.
Panmure Gordon
Perella Weinberg Partners
Piper Jaffray
Harris Williams & Co (a subsidiary of PNC)
Punjab National Bank
Raymond James
RBC Capital Markets
Royal Bank of Scotland
Robert W. Baird
Roth Capital Partners
Rothschild
Sagent Advisors
Sandler O’Neill Partners
SBI Capital Markets
Scotiabank
Societe Generale
Sonenshine Partners
Stephens, Inc.
Stifel Financial
Sucsy, Fischer & Company
Sumitomo Mitsui Financial Group
SunTrust Robinson Humphrey (STRH)
Syndicate Bank
TD Securities
UBS Group
Vermillion Partners
Wedbush Securities
Wells Fargo & Co.
William Blair & Company
WR Hambrecht & Co