List of investment banks

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From Wikipedia, the free encyclopedia

Most large investment banks

maintain central offices in financial centers. Pictured: Lower
Manhattan
The following list catalogues the largest, most profitable,
and otherwise notable investment banks. This list of
investment banks notes full-service banks,
financial conglomerates, independent investment
banks, private placement firms and notable acquired,
merged, or bankrupt investment banks. As an industry it is
broken up into the Bulge Bracket (upper tier), Middle
Market (mid-level businesses), and boutique
market (specialized businesses).[1]
Largest full-service investment banks
The following are the largest full-service global investment
banks; full-service investment banks usually provide both
advisory and financing banking services, as well as
sales, market making, and research on a broad array of
financial products,
including equities, credit, rates, currency, commodities, and
their derivatives. The largest investment banks are noted
with the following:[2]
1. JPMorgan Chase
2. Goldman Sachs
3. BofA Securities
4. Morgan Stanley
5. Citigroup
6. UBS
7. Deutsche Bank
8. HSBC
9. Barclays
10. RBC Capital Markets
11. Wells Fargo Securities
12. Jefferies Group
13. BNP Paribas
14. Mizuho
15. Lazard
16. Nomura
17. Evercore Partners
18. BMO Capital Markets
19. Mitsubishi UFJ Financial Group
Many of the largest investment banks are considered
among the "bulge bracket banks" and as
such underwrite the majority of financial transactions in the
world.[3] Additionally, banks seeking more deal flow with
smaller-sized deals with comparable profitability are known
as "middle market investment banks" (known as boutique or
independent investment banks).[1]
Financial conglomerates
Large financial-services conglomerates
combine commercial banking, investment banking, and
sometimes insurance. Such combinations were common in
Europe but illegal in the United States prior to the passage
of the Gramm-Leach-Bliley Act of 1999. The following are
large investment banking firms (not listed above) that are
affiliated with large financial institutions:[4]
 ABN AMRO[5]
 Banca Monte dei Paschi di Siena (MPS Capital
Services)
 Banco Bradesco
 Banco Santander
 Bank of China (BOC International Holdings)
 Bank of Communications (BOCOM International
Holdings)
 BBVA
 Berenberg Bank
 Canadian Imperial Bank of Commerce (CIBC World
Markets)
 China CITIC Bank
 China Construction Bank (CCB International Holdings)
 CIMB
 Commerzbank
 Crédit Agricole
 Daiwa Securities
 DBS Bank (Capital Markets Group)
 Desjardins Group (Desjardins Capital Markets)
 Handelsbanken
 ICICI Bank
 Industrial and Commercial Bank of China (ICBC
International Holdings)
 ING Group
 Intesa Sanpaolo (Banca IMI)
 İş Bankası (Is Investment)
 Itaú Unibanco (Itaú BBA)
 BTG Pactual
 KBC Bank
 KeyCorp (KeyBanc Capital Markets)
 Kotak Mahindra Bank
 Laurentian Bank of Canada (Laurentian Bank
Securities)
 Lloyds Banking Group (Lloyds Bank Wholesale
Banking & Markets)
 M&T Bank
 Macquarie Group
 Maybank
 Mediobanca
 Mizuho Financial Group
 National Bank of Canada (National Bank Financial
Markets)
 Natixis
 Nordea
 PNC Financial Services (Harris Williams & Company)
 Rabobank
 RHB Bank
 / Rothschild & Co
 Sanlam
 Sberbank
 Scotiabank (Scotia Capital)
 SEB
 Société Générale
 Standard Bank
 Standard Chartered Bank
 State Bank of India (SBI Capital Markets)
 Stifel Financial (Stifel Nicolaus)
 Sumitomo Mitsui Financial Group
 SunTrust (Robinson Humphrey)
 TD Securities
 Truist Financial
 UniCredit (UBM)
 VTB Bank (VTB Capital)
Private placement companies
Private placement agents, including companies that
specialize in fundraising for private equity funds:[6][7]
 Campbell Lutyens
 Probitas Partners
Other notable advisory and capital markets
firms
The following is a list of other boutique advisory firms and
capital markets firms that have some notability:[citation needed]
 BDO International (BDO Capital Advisors)
 Berkery, Noyes & Co
 Brewin Dolphin
 Capital One (Capital One Securities)
 Deloitte (Deloitte Corporate Finance)
 Duff & Phelps
 Ernst & Young (Ernst & Young Capital Advisors)
 KPMG (KPMG Corporate Finance)
 PwC (PwC Corporate Finance)
 Roth MKM
 Sheshunoff Management Services
Notable former investment banks and
brokerages
The following are notable investment banking and
brokerage firms that have been liquidated, acquired or
merged and no longer operate under the same name.
Firm Fate

A.G. Becker & Co. acquired by Merrill Lynch in 1984

A.G. Edwards acquired by Wachovia in 2007

ultimately part of Deutsche Bank, survives

Alex. Brown & Sons
as minor business unit

acquired by Canadian Imperial Bank of

The Argosy Group
Commerce in 1995

Babcock & Brown collapsed 2009, liquidation of its assets

BancAmerica acquired by NationsBank in 1998 and

Robertson Stephens integrated into NationsBanc Montgomery
Securities to form Banc of America
 Securities

collapsed 1995; assets acquired by ING

Barings
Bank

collapsed 2008; assets acquired by

Bear Stearns
JPMorgan Chase

Blyth, Eastman
merged with Paine Webber in 1979
Dillon & Co.

Bowles Hollowell
acquired by First Union in 1998
Connor & Co.

merged with Harriman Brothers &

Brown Bros. & Co. Company in 1931 to form Brown Brothers
Harriman & Co.

acquired by Deutsche Bank in 1999 to

BT Alex. Brown
form Deutsche Bank Alex. Brown

C.E. Unterberg,
acquired by Collins Stewart in 2007
Towbin

Commodities acquired by Goldman Sachs in 1997 and

Corporation renamed Goldman Sachs Princeton

Dain Rauscher
bought by Royal Bank of Canada in 2000
Wessels

Dean Witter merged with Morgan Stanley to

Reynolds form Morgan Stanley Dean Witter,
subsequently the Dean Witter name was
 eliminated

Dillon, Read & acquired by Swiss Bank Corporation in

Company 1997, and is ultimately part of UBS AG

Donaldson, Lufkin
acquired by Credit Suisse in 2001
& Jenrette

Drexel Burnham
liquidated 1990
Lambert

acquired by Shearson Lehman/American

E.F. Hutton & Co. Express in 1988, ultimately part of Lehman
Brothers

merged with Credit Suisse in 1988 to

First Boston form CS First Boston, renamed "Credit
Corporation Suisse First Boston" in 1996 and "Credit
Suisse" in 2006

First Union acquired by Wachovia in 2002 to

Securities form Wachovia Securities

acquired by White Weld & Co in 1974 and

G.H. Walker & Co.
ultimately part of Merrill Lynch

the investment banking division of Giuliani

Giuliani Capital
Partners was sold to Macquarie Group in
Advisors
2007

Goodbody & Co. merged into Merrill Lynch in 1970

Gruntal & Co. acquired by Ryan Beck & Co. in 2002

H.B. Hollins & Co. liquidated in 1913

Halsey, Stuart & Co. ultimately part of Wachovia

acquired by Chase Manhattan Bank in 1999

Hambrecht & Quist and ultimately part of JPMorgan Chase;
H&Q name continues as investment advisor

Hambros Bank acquired by Société Générale in 1998

Harriman Brothers merged with Brown Bros. & Co. in 1931 to

& Company form Brown Brothers Harriman & Co.

acquired Shearson Hammill & Co. in 1974

Hayden, Stone &
and assumed the Shearson name; ultimately
Co.
acquired by American Express in 1981.

acquired by Lloyds TSB to form the Lloyds

HBOS
Banking Group in 2009

acquired by Trustee Savings Bank (TSB) in

Hill Samuel
1987 later Lloyds TSB

investment bank acquired by Loeb,

Hornblower &
Rhoades & Co. in 1977 and ultimately part
Weeks
of Shearson/American Express

J.&W. Seligman & investment bank ultimately part of UBS

Co. AG; continues as asset manager

J.C. Bradford & Co. acquired by PaineWebber in 2000,

 ultimately part of UBS AG

IBD acquired by Piper Jaffray in 1999;

company continues as asset management
John Nuveen & Co. house under Nuveen Investments, which is
controlled by private equity firm Madison
Dearborn Partners

Kaufman Bros. Ceased operations in 2012

Keefe, Bruyette & acquired by Stifel in 2012, still maintain

Woods independent branding

acquired by General Electric Corporation in

Kidder, Peabody & 1986, subsequently resold
Co. to PaineWebber in 1994 and ultimately part
of UBS AG

Kleinwort Benson acquired by Dresdner Bank in 1995

Kuhn, Loeb & Co. ultimately part of Lehman Brothers

ultimately part of C.E. Unterberg, Towbin,

with parts sold to Oppenheimer; not to be
confused with Rothschild & Co (the result
L.F. Rothschild
of a merger of the British N.M. Rothschild
& Sons with the French Rothschild & Cie);
see Rothschild family

Lee, Higginson &

liquidated 1932
Co.

Lehman Brothers bankrupt in 2008, asset sold to Barclays

 Capital and Nomura Holdings

ultimately defunct in 1998 after departure

Llama Company
of Alice Walton

acquired by Shearson Hammill & Co. to

form Shearson Loeb Rhoades in 1979
Loeb, Rhoades &
which was later acquired by American
Co.
Express in 1981 to
form Shearson/American Express

aryanized by the Nazis in 1938, sold in

Mendelssohn & Co.
parts to Deutsche Bank

acquired by Bank of America in 2008 and

integrated into Banc of America
Merrill Lynch & Co.
Securities to form Bank of America Merrill
Lynch

Miller Buckfire & acquired by Stifel in 2012, still maintains

Co. independent branding

acquired by NationsBank in 1997 and

Montgomery integrated into NationsBanc Capital
Securities Markets to form NationsBanc Montgomery
Securities

acquired by Morgan Stanley in 1967 and

incorporated as Morgan et Compagnie
Morgan & Cie
International in Morgan Stanley
International Incorporated in 1975

Monnet, Murnane & liquidated 1945

Co.

Morgan Grenfell acquired by Deutsche Bank in 1990

Morgan, Harjes & renamed Morgan & Cie in 1926 and

Co. acquired by Morgan Stanley in 1926

Paine Webber acquired by UBS AG in 2000.

Park Ryan liquidated 1979

Prudential Securities acquired by Wachovia in 2003

merged with Dean Witter & Co. in 1978 to

Reynolds Securities form Dean Witter Reynolds, subsequently
merged with Morgan Stanley

Robert Fleming &

acquired by JPMorgan Chase in 2000.
Co.

acquired by BankAmerica in 1997 and

integrated into BancAmerica Securities to
form BancAmerica Robertson Stephens.
Sold again in 1998 to BankBoston
Robertson Stephens
(later FleetBoston Financial and would
operate as Robertson Stephens from 1998–
2002, when the firm was shuttered after the
collapse of the Internet bubble

Roosevelt & Son Broken up into three firms in 1934:

Roosevelt & Son (liquidated), Roosevelt &
Weigold (today operates as Roosevelt &
 Cross); and Dick & Merle Smith

Ryan Beck & Co. acquired by Stifel in 2007

ultimately part of UBS AG; not to be

S. G. Warburg & Co confused with M.M. Warburg or Warburg
Pincus; see Warburg family

acquired by Travelers Group in 1997,

Salomon Brothers
ultimately part of Citigroup

investment bank bought by Citigroup in

Schroders
2000; continues as asset manager

acquired Lehman Brothers Kuhn Loeb in

Shearson/American 1984 to form Shearson Lehman/American
Express Express, later Shearson Lehman
Hutton and Shearson Lehman Brothers

renamed Shearson Loeb Rhoades after the

Shearson, Hammill 1979 acquisition of Loeb, Rhoades & Co. in
& Co. 1979; acquired by American Express in
1981 to form Shearson/American Express

renamed Shearson Lehman Brothers in

Shearson Lehman 1990 and split up in 1993 with the IPO
Hutton of Lehman Brothers and the sale of the
retail and brokerage operations to Primerica

Soundview
Acquired by Charles Schwab in 2003.
Technology Group

Swiss Bank merged with Union Bank of Switzerland to

Corporation form UBS AG

Union Bank of merged with Swiss Bank Corporation to

Switzerland form UBS AG

acquired by Wells Fargo in 2008 and

Wachovia Securities
renamed Wells Fargo Securities

Wasserstein Perella
bought by Dresdner Bank in 2000.
& Co.

acquired by Schroders, and ultimately

Wertheim & Co.
by Salomon Smith Barney

White Weld & Co. bought by Merrill Lynch in 1978.

acquired by the Canadian Imperial Bank of

Commerce in 1987, operating as CIBC
Wood Gundy
Wood Gundy before becoming CIBC
World Markets in 1997

See also
 List of private-equity firms
 List of investment banking private equity groups

 List of asset management firms

 Sovereign wealth fund

 List of exchange-traded funds

 Boutique investment bank

References
 1. ^ Jump up to:a b "Middle Market Investment Banks List -
Investment Overview". Corporate Finance Institute. December
1, 2018. Retrieved December 1, 2018.
2. ^ "Top investment banks 2017 | Statista". Statista.
Retrieved 2018-03-29.
3. ^ "Definition of "Bulge bracket" - NASDAQ Financial
Glossary". NASDAQ.com. Retrieved 2018-03-29.
4. ^ Litan, Richard J. Herring and Robert E. "Financial
Conglomerates: The Future of Finance?". Brookings.
Retrieved 2018-03-29.
5. ^ ABN AMRO Bank N.V. was acquired by a consortium of
Fortis, RBS and Santander in October 2007. Since October
2009 ABN AMRO is owned by the state of the Netherlands.
6. ^ Dow Jones Private Equity Analyst, Special Section "Sources
of Capital", page 23 "Placement Agent Ranking" Total Raised
From New
LPs http://img.en25.com/Web/DowJonesFIS/2010%20SOC.pd
f
7. ^ Excludes placement agent groups within large investment
banks. Top Placement Agents at End of 2008. Wall Street
Journal, April 22, 2009
show

Investment banks
show

Corporate finance and investment banking

Categories:
 Investment banks
 Lists of banks
 Lists of service companies
 Knowledge firms
 This page was last edited on 9 January 2025, at 10:19 (UTC).
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