Investment banking on the decline

Investment-banking revenue will drop about 4 percent this year as commissions earned from advising on mergers, underwriting securities and trading fall, JPMorgan Cazenove analysts told the NY Post

Revenue will be 13 percent lower in the first quarter compared with the year-earlier period, analysts led by Kian Abouhossein wrote in a note.
The analysts upgraded their estimate for fixed-income, currencies and commodities sales to a 13 percent drop for the first quarter from a decline of 26 percent after a “material improvement” at the start of the year. Their estimate for total sales this year was unchanged at 6 percent lower than 2011…


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