"After nearly three years of sputtering and false starts since the pandemic-era highs, dealmaking is finally looking like it's back in gear on Wall Street. Goldman Sachs, JPMorgan, and Citi all reported stronger third-quarter results as CEOs revived mergers and financing plans that had stalled while investors waited for markets to thaw. For the second quarter in a row, signs are mounting that the long-standing dealmaking drought, which has dragged on, affecting bankers' pay and morale, is showing real signs of easing."
"Goldman led the rebound with its third-highest quarterly net revenues ever: more than $15 billion, the bank said in its quarterly earnings release. David Solomon, the firm's CEO, told investors in a shareholder call on Tuesday that mergers were back - driving the firm's advisory revenues 60% higher than the same period one year earlier, to a quarterly total of $1.4 billion. Overall investment banking fees totaled almost $2.7 billion, 42% higher than the third quarter of 2024."
Big banks experienced a resurgence in dealmaking that boosted third-quarter results and investment banking revenue. Goldman Sachs posted its third-highest quarterly net revenues, topping $15 billion, with advisory revenue up 60% to $1.4 billion and overall investment banking fees nearly $2.7 billion, a 42% year-over-year increase. Equity underwriting rose to $465 million and debt underwriting to $788 million. JPMorgan and Citi recorded double-digit gains in investment banking fees. Significant transactions this quarter included public offerings for Klarna and Figma and proposed large mergers and take-privates, aided by a more supportive regulatory environment and improving banker morale.
Read at Business Insider
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