JPMorgan Chase, Goldman Sachs and Morgan Stanley easily topped estimates for the fourth quarter.
American investment banks disclosed a record-smashing quarter, helped by surging trading activity around the U.S. election and a pickup in investment banking deal flow.And deal activity is only picking up steam, according to bank executives.
Multibillion dollar acquisitions sit at"the top of the waterfall" for investment banks like Morgan Stanley, Pick explained, because they are high-margin transactions that"have a multiplier effect through the whole organization."
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