JPMorgan Leads Goldman, Citi in a Wall Street Comeback Quarter
- Biggest U.S. bank had top gains in trading, investment banking
- Firms navigated market turmoil to beat expectations in trading
This article is for subscribers only.
Months of market turmoil are pushing JPMorgan Chase & Co. even further ahead of the Wall Street pack.
The firm led by Jamie Dimon, which has built up its dominance in recent years, widened its edge on a variety of fronts in the third quarter, sending its shares to an all-time high Tuesday. The bank posted its biggest increase in revenue from fixed-income trading in almost three years, maintaining a more-than $1 billion lead on competitors across markets. It also announced a surprise jump in fees from investment banking, scoring its biggest advantage over Goldman Sachs Group Inc. in more than a year in the high-stakes business.