JPMorgan and Goldman Sachs held on to their one-two rankings in investment banking revenue in 2022, while Bank of America pushed its way into the third slot in a year of shrinking business, according to Dealogic.

All told, the top 10 investment banks on Wall Street booked $56.4bn in revenue in 2022 as of 14 September, down nearly 39% from $92bn in 2021 as of the same date, and about 8% lower than 2020’s tally of $61.3bn.