JPMorgan has stretched its lead at the top of the investment banking fee league tables, as the world's biggest banks have seen revenue shrink by $13.2bn amid an ongoing dealmaking drought.

The US investment banking giant grabbed 8.6% of the dealmaking fee pool globally in the first three quarters of 2023, according to data provider Dealogic, up from 7.8% at the same point last year. Second-placed Goldman Sachs took 7% of investment banking revenue, down from 7.3% in the first nine months of 2022.