J.P. Morgan No. 1 in Investment Banking Fees
Jamie Blood Dimon and the rest of the J.P. Morgan crew again led all banks in 2009 in the category of investment banking fees, with Lloyd I Ain't Shooting Blankfein and his holy posse again taking second place. Other winners in the fee chase included Morgan Stanley, which had a comeback year of sorts after a rough 2008; and Barclays, which jumped in market share. Topping the loser list were Citi and BofA. Citi has taken a huge dive versus its standing at the top of the fee heap (which it held in the mid-aughts), while Moynihan et al have managed to create a company less than the sum of its parts: Separately, prior to the merger, Bank of America and Merrill Lynch enjoyed a higher share of the fee market than they do now that they're combined. The good news for BofA ML is that this should change, in about five to 10 years when a solid integration is complete.