Investment Banking

Wall Street execs say dealmaking recovery has stuttered in the third quarter

Goldman Sachs, Citigroup, Bank of America, JPMorgan and Morgan Stanley execs have pointed to more muted investment banking fees

Wednesday 11 September 2024 at 04:29

Brian Moynihan, chief executive officer of Bank of America, pointed to dealmaking fees that were flat during the third quarter
Brian Moynihan, chief executive officer of Bank of America, pointed to dealmaking fees that were flat during the third quarter Photo: Cyril Marcilhacy via Getty Images

Wall Street bank executives have pointed to a slower revival in dealmaking fees during the third quarter, as M&A activity has yet to bounce back.

JPMorgan president, Daniel Pinto, and Bank of America chief executive, Brian Moynihan, are the latest US bank executives to offer a prediction into investment banking revenues during the third quarter.