Citi and BAML score M&A success in Q2

By Owen Sanderson
20 Jul 2017

Bank of America Merrill Lynch (BAML) and Citi’s M&A and advisory businesses shone this quarter, thanks to sustained investments in moving up the investment banking table, and to a series of chunky deals where both firms have been prominent. Goldman and Morgan Stanley, still the top two banks in the market, saw advisory revenues flatline in the second quarter.

BAML’s reported advisory revenues were up 45% for the second quarter this year to $483m, while Citi reported revenues were up 32% to $314m. Advisory is a lumpy business, where revenues can come in fits and starts, as big deals that have been a long time in the ...

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