🚨 Is American investment banking dead?
14 consecutive quarters with revenue below 25% of total bank income.
IPO and M&A in hibernation. Investment banking will drop to $7.5 billion in Q2 2025.
• Meanwhile, trading is the opposite: $31 billion — +10% year over year.
Goldman Sachs is growing, JPMorgan is declining.
Will banks hold the market solely on speculation?
