U.S. banks have benefited from their European rivals’ decisions to shrink, picking up share in businesses from advising on mergers and underwriting stock sales to trading commodities and bonds. The biggest U.S. firms generated $4.5 billion more revenue in 2015 from investment banking and trading than they did in 2011. European banks’ revenue in those businesses dropped $11.5 billion from 2011 to 2015, as firms including Deutsche Bank AG and UBS Group AG have scaled back their capital markets units to boost capital levels and profitability.
Photographer: Scott Eells/Bloomberg
U.S. Investment Banks Drive Revenue Share to New High: Chart
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