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 banks.

Goldman Sachs

With investment banking revenue of $7.86 billion in 2018, The Goldman Sachs Group (NYSE:GS) is the 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, New York, 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 September 27, 2019, Goldman Sachs had a market capitalization of $78 billion.

JP Morgan

JP Morgan is the second largest investment bank in the world, with a market share of over 8%. The firm reported $7 billion in investment revenue in 2018. JP Morgan business areas include investment banking, asset management, markets and treasury services, private banking, brokerage, wealth management, securities, merchant and commercial banking. The investment services cover all asset classes including fixed income, equity, multi-asset solutions, alternative investments and money market. J.P. Morgan has been awarded as the Best Investment Bank in the World, Best Investment Bank in North America and Best Investment Bank in the United States by Global Finance magazine. JPMorgan Chase is one of the oldest financial institutions with history traced back to 1799. Today it employs over 250,000 staff and offers products and services to corporations, wealthy individuals, governments, institutional investors, banks and broker-dealers, hedge funds and alternative investors, and insurance and government-sponsored enterprises.

Bank of America

Bank of America Corp 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, decreased by 11 percent to $5.3 billion in 2018 from $6 billion in 2017. In 2019, Bank of America announced a rebranding of its investment banking arm Bank of America Merrill Lynch to BofA Securities.

Morgan Stanley

Morgan Stanley is a global investment bank with branches in over 40 countries and 58,000 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 revenues of $6.1 billion in 2018 increased 10% versus the prior year according to form 10-K. 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.

Citigroup

Citigroup Inc, located in New York, is an American financial services company and investment bank. The total investment banking revenues were $5.01 billion in 2018 according to annual report. For the year ended December 2018, the company reported total revenue of $72.9 billion, net income of $18 billion, deposits $1.01 trillion, net loans of $672 billion and total assets of $1.917 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 fee share equals approximately 4.2%. Barclays was awarded as the Most Innovative Investment Bank for Financial Institutions Group by The Banker.

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 nine months 2018, the company recorded net income attributable to shareholders of US$1.8 billion and net interest income of US$4.7 billion. In 2018, it was awarded as the most innovative investment bank for leveraged finance and securitization by The Banker. It also has been named 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 according to Dealogic. Established in 1856, the Group has operations in 50 countries and employs 45,560 staff.

Deutsche Bank

Deutsche Bank (DB) is the leading financial institution in Germany and one of the largest European investment banks with approximately $2.5 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 September 30, 2019, the company had a market capitalization of $15 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. Wells Fargo generated investment banking fees of $1.8 billion in 2018.

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. The total investment banking revenues reached $1.9 billion in 2018, 60% higher than revenues in 2016. The company was founded in 1962 and employs 3,500 staff.

UBS Group

Founded in 1862, UBS is a Swiss investment bank and financial services provider with headquarters in Zurich and Basel, and main offices in New York, Stamford, London, Chicago, Tokyo and Hong Kong. With 67,000 employees, it operates through four business lines: Global Wealth Management, Investment Bank, Asset Management and Personal & Corporate Banking. For the year ended December 31, 2018, the company reported revenue of US$30.2 billion, net profit of US$4.9 billion and shareholders' equity of US$53.3 billion. UBS shares are traded on the New York and Swiss stock exchanges. Sergio P. Ermotti is Chief Executive Officer (CEO) and Axel Weber is Chairman of the Group.

RBC Capital

RBC Capital Markets (RBCCM) ranks as one of the top 15 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.

Updated as of October 1, 2019.

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