U.S is the place to be to make investment banking fees

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Wall Street firms have gained market share in investment banking and trading from European firms that are still grappling with a stagnant economy and pressure from regulators to bolster capital.

Total revenue posted by the securities units of the top U.S. investment banks rose by 24% in the second quarter over the year-earlier period, more than twice the 11% gain logged by Europe’s biggest firms, among them Deutsche Bank and Barclays, according to data compiled by Bloomberg.

'The place you want to focus in terms of making money is the Americas', said Jim Amine, Credit Suisse  global head of investment banking, in a Bloomberg Television interview with Erik Schatzker and Alix Steel. 'Europe’s fees have been on a trend down, Asia as well, but the Americas are now 58% of all the investment banking fees globally'.

Revenue from fixed-income, currencies and commodities sales and trading climbed 12 percent in the second quarter at the top five U.S. banks, according to Bloomberg Industries, which tracked earnings from JPMorgan Chase, Goldman Sachs, Citigroup, Bank of America Corp. and Morgan Stanley.

Eight European banks, including Credit Suisse and HSBC, posted an 8% decline to $11.3bn. The FICC business ranges from government-bond trading to arranging foreign-exchange services for corporate clients.

To access the complete Bloomberg article hit the link below

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