Big 3 rule again

JP Morgan, Morgan Stanley and Goldman Sachs are proving to be the cream of the crop as they rank as the top 3 underwriters among all, while also being the top advisers for M&A.

Bloomberg currently has a feature on the three firms and their success amid the crisis.

The three New York-based banks together control 42 percent of the global market so far this year, according to data compiled by Bloomberg. That’s up from 30.7 percent for the three top underwriters in the first six months of 2008 and the highest concentration for any first half in at least a decade.

The U.S. sales include $5.76 billion raised by JPMorgan, equaling 19 percent of the company’s 2009 equity sales, and $6.92 billion brought in by Morgan Stanley, making up 27 percent of its total. Goldman Sachs raised $5.75 billion, or 22 percent.

Read the entire feature HERE.

Having paid back the TARP money, they should be back to normal operations very, very soon.


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