JPMorgan’s investment bank reigns supreme. It is a juggernaut backed by a fortress balance sheet that has dominated league tables for more than a decade, and regularly looks to topple rivals in sectors and countries where it doesn't lead the pack.

It is easy to forget that this wasn’t always the case. In 2005, JPMorgan entered into a joint venture with Cazenove, known as the Queen's broker, in a bid to get a greater foothold on the UK market and catch up Wall Street rivals Goldman Sachs and Morgan Stanley, which had already built up sizeable City presences.