A definitive breakdown of the gloomy state on Wall Street
Don't be fooled.
While Wall Street bank revenues appeared to bounce back in the first quarter of 2017, with banks posting strong results in fixed income trading in particular, industry-wide revenues were still down on the same period from 2012 to 2015.
According to data from industry consultant Coalition, investment bank revenues at the top 12 banks totaled $42.4 billion in the first quarter, up 14% from the previous year, but still down sharply on previous years.
The data includes revenues for: Bank of America Merrill Lynch, Barclays, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Morgan Stanley, Societe Generale and UBS.
Have a look:
More from Matt Turner:
- A definitive breakdown of the gloomy state on Wall Street
- See inside the epic Manhattan party honoring Goldman Sachs and Diddy
- The world's largest hedge fund told clients that US stocks may drop 11% if Trump is impeached
- A new player in Wall Street trading has made a key hire
- A $385 billion fund CEO on why he is pumped about India