Which banks dominate the ‘investment banking division’ (IBD – M&A, equity capital markets and debt capital markets) landscape by country? If you thought it was all J.P. Morgan and Goldman Sachs, you were very, very wrong.
A new chart from information providers Dealogic reflects the diversity in IBD dominance geographically. Yes, J.P. Morgan and Goldman Sachs are the biggest players in the US and the UK respectively, but the leaders elsewhere are far more diverse than you might think. In China, especially, local firms dominate the market. Work for a big US bank there, and you’ll be employed by a bit-player.
On a global basis, however, the big US banks are best.