RANKED: The Investment Banks Raking In The Most Fees On Wall Street

Deals like Facebook's acquisition of Whatsapp have investors feeling pretty optimistic about 2014's mergers and acquisitions market, and that means there are Wall Street banks about to rake in some serious fees.

This is a list of who is in the best position to do that.

Bloomberg Markets Magazine is out with its annual ranking of which banks dominate deal flow, and make the most money from their advisory and debt/equity issuing services.

What's most interesting about the list isn't which bank has taken the top spot - it's JP Morgan, but you may have already guessed that given its size.

Right now, what's really interesting is the jockeying toward the middle of the list.

This is where smaller, less regulated banks can get in the game, and where the competition - not just for deals, but also for banker talent - is very heated.

Think about it: These days, if you're a banker at a big Wall Street bank inundated with new compliance regulation, these smaller banks are increasingly attractive places to work.

Mid-sized firms like Mizuho and Jefferies made their way into the top 20 in 2013 after hovering around the outskirts in 2012. Rothschild, and Societe Generale were knocked off the list all together.