January 2016
Intermediate to advanced
480 pages
132h 28m
English
The investment banking and securities business is a $148 billion operation in the United States, dominated by Bank of America, J. P. Morgan Chase, Citigroup, Morgan Stanley, and Goldman Sachs, with U.S. market shares of 12, 11, 8, 8, and 8 percent, respectively. Approximately 53 percent of the industry revenues are derived from other firms. The industry is currently improving from the subprime loan era where, from 2009 to 2014, revenues declined industry wide at an annualized rate of over 4 percent. However, the outlook moving forward from 2014 to 2019 is for a growth rate over 4 percent. Replacing the subprime loan market as key growth initiatives are underwriting of equity services and ...
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