News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Investment Banking

Bank of America’s 41% deal fee slump beats Wall Street rivals

The lender climbed from fourth to third in the investment banking fee league tables, maintaining a market share of around 6%

Bank of America chief executive Brian Moynihan: 'We ended the year on a strong note growing earnings year over year in the 4th quarter in an increasingly slowing economic environment'
Bank of America chief executive Brian Moynihan: 'We ended the year on a strong note growing earnings year over year in the 4th quarter in an increasingly slowing economic environment' Photo: Getty Images

Bank of America's dealmakers maintained an edge on Wall Street rivals during a torrid year for investment banking, but fees still slid by 41% from a year earlier.

The US bank made $3bn from investment banking activity last year. This was a 41% decline, but the fall was not as sharp as many of its rivals including JPMorgan, which saw dealmaking revenue slump by 50% last year.

WSJ Logo