Wall Street Fading as Emerging-Market Investment Banks Add Share

Qilai Shen/Bloomberg

A construction worker stands under a Citic Securities Co. branch sign in Shanghai. Citic, founded in 1995 and controlled by state-owned Citic Group Corp., grabbed the biggest share of investment-banking fees in China last year, 8.5 percent, up from 4.6 percent in 2011 and 0.3 percent in 2005.