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Article: A fee bonanza for investment banks Biggest total in Wall Street history marks start of a boom MARKETPLACE by Bloomberg
- Article from:
- International Herald Tribune
- Article date:
- March 6, 2006
- Author:
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Edward Robinson
International Herald Tribune
03-06-2006
Wall Street has never had it so good. Investment banks, led by Citigroup, Goldman Sachs Group, Morgan Stanley, J.P. Morgan Chase and Merrill Lynch, have been collecting the most fees since at least 1999. The second annual Bloomberg 20 list of the world's best-paid investment banks was compiled by adding up the fees securities firms worldwide collected from advising on mergers and acquisitions and underwriting stocks and bonds during 2005. Fueled by a resurgence of corporate buyouts and multibillion-dollar mergers, as well as by rising sales of stocks and bonds, many of Wall Street's biggest money makers broke profit records in 2005. ...