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Goldman Sachs Dealmakers’ Surging Fees Help Offset Trading Misery

  • Firm’s merger-advisory revenue soars 56% in dealmaking boom
  • Shares of the bank surge 6.6%, the most in almost seven years
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Bloomberg Intelligence’s Alison Williams examines fourth-quarter results from Goldman Sachs.(Source: Bloomberg)
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Goldman Sachs Group Inc., owner of one of Wall Street’s top deal-making franchises, leaned on that business last quarter to overcome an industrywide downturn in fixed-income trading. The shares jumped the most in almost seven years.

Merger-advisory fees jumped 56 percent to the highest in more than a decade, lifting the investment-banking division above analysts’ estimates even as companies tempered their stock and bond issuance. The gains helped offset a dismal quarter for the bank’s fixed-income traders, who turned in the worst performance since before the financial crisis.