After six years of JP Morgan and Deutsche Bank battling for the top two places in the European investment banking fee table, there is a new challenger – Goldman Sachs.

JP Morgan's $1.2 billion of revenues and 7.5% market share as of November 27 means it is likely to be the biggest revenue-earner in the region for the second year in a row. However, a surging Goldman Sachs has nudged Deutsche Bank into third place.