On Monday, Refinitiv revealed that the global investment banking fees has dropped 31% to $28.1 billion in the first-quarter of 2022, as compared to the first-quarter of 2021.
This is seen as the slowest opening period for global IB fees since 2020.
Fees during the first quarter of 2022 declined 34% compared to the fourth quarter of last year, which ranked as the largest quarter for fees on record, the global data provider said.
The Americas contributed 49% of all fees generated globally with $13.7 billion, a 39% downtick compared to 2021 levels.
Imputed fees in the EMEA region decreased 29% to $6.3 billion during the first quarter of 2022.
Total IB fees in Asia-Pacific and Japan hit $8.0 billion with a 15% decline compared to first quarter 2021 levels.
JP Morgan maintained the top spot for investment banking fees earned during the first quarter of 2022 with $1.9 billion, earning an industry-leading 6.7% share of the market. Goldman Sachs remained in second place with an estimated 6.5% of global wallet share. BofA Securities took the third spot with $1.5 billion in fees, followed by Morgan Stanley and Citi.
Completed M&A advisory fees registered an increase of 8% compared to a year ago with $9.8 billion in fees globally.
With declining number of IPOs, follow-ons and convertibles, ECM underwriting fees totaled $3.5 billion during the first quarter of 2022, a 73% decrease compared to 2021 levels.
Furthermore, Refinitiv review reported that the DCM underwriting fees falls 19% as compared to the first-quarter of 2021, whereas the fees from syndicated lending activity resulted in a 25% decrease to $5 billion since 2021.
