Goldman Sachs has overtaken JPMorgan in the UK dealmaking fee tables as revenue tumbled by 42% in Europe's biggest investment banking market.

The two Wall Street banks have vied for the top spot in the City for the past decade, but Goldman Sachs won out in 2022 with a 9.5% share of the UK fee pool as capital markets activity slumped last year, according to data provider Dealogic.