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The definitive Wall Street scorecard is out - and Goldman Sachs is slipping

Sep 22, 2017, 04:36 IST

Sam Greenwood/Getty Images

The latest ranking of Wall Street supremacy is out, and there's a notable shift at the top of the league tables.

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JPMorgan once again dominated the competition in the first half of the year for revenue across fixed income, equities, and banking, according to data-analytics company Coalition.

The largest bank by assets in the US hauled in $13.2 billion in revenue through half of 2017 - up from $12.5 billion at last year's midpoint - ranking No. 1 in investment banking and FICC (fixed income, currencies, and commodities) and tying for first in equities with Morgan Stanley

But Goldman Sachs, which has recently occupied or shared the No. 2 overall spot - including in the full-year results for 2016 - has slipped to third in a tie with Bank of America Merrill Lynch.

Citi now has sole possession of second place, thanks to a strong showing in FICC. Within that business, Citi ranked No. 1 in emerging markets macro, commodities, and municipal finance and No. 2 in G10 rates.

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Goldman's drop is notable, but not surprising. Its bond-trading unit has had an abysmal year, with 2Q FICC revenue falling 40% lower than the second quarter of 2016 and 31% below its weak first quarter - its worst performance in recent years.

Trading has been gloomy across Wall Street, but Goldman Sachs in particular has suffered. That's reflected in the tables, with Goldman dropping from the top-3 in FICC and from second to third in equities.

Goldman Sachs' loss is Bank of America Merrill Lynch's gain. The firm tied for third overall, leapfrogging Goldman in FICC revenues and tying Goldman for second in investment banking revenues.

The top-5 banks overall were all based in the US.

Here's the global ranking, plus the rankings broken down by region:

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