As financial institutions continue to play an integral role in capital markets and the global economy, FIG (Financial Institutions Group) investment banks have become increasingly important. This article will explore the top FIG investment banks and outline their key strengths. FIG groups at banks focus on providing advisory and financing services to companies in the financial services industry, including commercial banks, insurance firms, asset managers, exchanges, and more. The top global FIG investment banks include Goldman Sachs, Morgan Stanley, JPMorgan, Bank of America Merrill Lynch, Citi, Credit Suisse, and Barclays. These banks have established leading FIG practices over the years by leveraging industry expertise, sector specialization, and key relationships. Their FIG groups generate substantial revenues by advising on high-profile mergers and acquisitions, blockbuster IPOs, and complex regulatory issues in the financial sector.
Goldman Sachs’ Strong Advisory Franchise
Goldman Sachs has one of the top FIG investment banking practices globally. Its FIG group serves clients across subsectors like banks, specialty finance, financial technology, asset management, and insurance. Goldman Sachs has advised on transformational deals in FIG like the $28 billion merger between SunTrust and BB&T and the $34 billion sale of Worldpay to FIS. The firm is known for its world-class M&A advisory team that provides insightful strategic advice to financial institution clients. Goldman’s FIG practice also leverages the firm’s strong cross-border reach and capital markets expertise to execute complex cross-border FIG transactions.
Morgan Stanley’s Global FIG Footprint
Morgan Stanley has built a powerhouse FIG franchise by combining stellar investment banking capabilities with industry-leading research and global distribution power. Its FIG practice serves clients across the Americas, Europe, the Middle East, Africa, and Asia-Pacific. Morgan Stanley advised BBVA on the $11.6 billion sale of its U.S. subsidiary to PNC and advised E*Trade on its $13 billion sale to Morgan Stanley. It provides tailored M&A, capital raising, and risk management solutions to FIG clients worldwide. Morgan Stanley’s FIG practice also benefits from the firm’s strength in areas like fixed income and commodities.
JPMorgan’s Strong Ties with Large Banks
JPMorgan has deep ties to large banks and financial institutions globally. Its FIG practice leverages the firm’s commercial banking heritage and relationships to drive business. JPMorgan has advised on marquee FIG transactions like the $66 billion merger between SunTrust and BB&T and the $28 billion sale of EMC’s stake in VMWare. The firm’s FIG practice provides M&A, equity and debt capital raising, risk management, and liability management services. JPMorganFIG investment bank is particularly strong at advising large, multi-national banks. It also excels in emerging markets FIG, especially Asia.
Bank of America’s Solid FIG Capabilities
Bank of America Merrill Lynch (BAML) has built a strong brand in FIG investment banking, backed by the firm’s commercial banking roots and global reach. Its FIG practice provides M&A advisory, equity and debt underwriting, derivative solutions, and prime brokerage services. BAML has advised on notable deals like the $28 billion acquisition of E*Trade by Morgan Stanley and the $22 billion acquisition of Ameriprise by Ameriprise Financial. It is particularly adept at advising insurers and asset managers. BAML’s research also gives it an edge in winning FIG mandates.
Citi’s Extensive FIG Product Expertise
Citi has invested heavily in growing its FIG investment banking practice in recent years. It now has one of the largest FIG teams globally that provides services spanning M&A advisory, ECM, DCM, derivatives, securitization and more. Citi advised Schwab on its $26 billion acquisition of TD Ameritrade and advised Franklin Resources on its $6 billion acquisition of Legg Mason. Its product breadth makes Citi the preferred choice for many FIG institutions’ capital markets and risk management needs. Citi FIG bankers also leverage the firm’s on-the-ground presence in nearly 100 countries.
In summary, the top global FIG investment banks include Goldman Sachs, Morgan Stanley, JPMorgan, BAML, Citi and others. They have built leading FIG franchises by combining M&A advisory expertise, capital markets capabilities, research coverage and strong client relationships. Their FIG groups play a key role in advising financial institutions on M&A, IPOs, strategic risk management and more.