BANK of America Merrill Lynch was the biggest gainer in investment banking fees over 2013, Thomson Reuters’ data showed yesterday.
The bank earned $4.05bn (£2.5bn) in the first three quarters of the year, up 19.3 per cent on the year.
But JP Morgan kept its lead, almost $400m ahead of its closest rival and also increasing its fee income by 9.5 per cent compared with the same period of 2012.
Total fees across the industry came in at $56.8bn, a rise of three per cent, indicating both banks increased their market share.
Meanwhile Mergermarket data showed Morgan Stanley topping the rankings in September alone, with four deals with a value of £84bn, closely followed by JP Morgan’s five deals with a value totalling £83.7bn.
For legal advisers, Simpson Thacher and Bartlett came top.