US bank JPMorgan
In a ranking compiled by industry analytics firm Coalition, US banks dominated the top spots, with Goldman Sachs
The only European bank to make the top three was Deutsche Bank
Coalition, which only reports revenue figures for the top-ranked banks, said that total investment bank revenue earned so far this year was 6% lower than a year earlier, driven largely by a downturn in fixed income, currencies and commodities (FICC) divisions.
The top two investment banks in FICC - JPMorgan and Citi - have earned $8.9 billion this year from those divisions, compared to $10.1 billion in the same period last year, Coalition's data shows.
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Most investment banks have seen trading revenues slump over the past year amid a low interest environment and tougher regulations requiring them to hold more capital, which have driven down returns.
Equities divisions have performed much better, with the top bank Morgan Stanley making revenue of $4.5 billion in the year-to-date, 15% more than the top bank did a year earlier. Last year's leaders JPMorgan and Goldman Sachs dropped to second.
Revenue at investment banking divisions, whose staff advise on deals, also rose. First-place JPMorgan's year-to-date revenue was $4.4 billion, almost 5% more than the Wall Street bank made by the same time last year.
Coalition tracks the performance of Bank of America Merrill Lynch, Barclays