For an investment banker recently thawed out after being cryogenically frozen three years ago, a glance at the league table would not be the best way to understand the enormity of the impact of the crisis that occurred during his hibernation.

As our investment banker got into the freezer in the summer of 2007, the last league table of global investment banking fees he would have seen showed JP Morgan at the top with a market share of 7.8%, with Citigroup, another proponent of the universal banking model, in second place.