The boss of JP Morgan Chase said business is ‘close to as good as it gets’ as some of Wall Street’s biggest banks celebrated a £36billion profits boom.
Trading revenues have surged as investors navigate volatility stemming from conflict in the Middle East, the mixed outlook for the global economy and the AI frenzy.
A wave of takeover activity has boosted investment banking fees, with US predators circling the London stock market for bargains – leaving firms including Easyjet, Tate & Lyle and Segro among the targets.
And business has been boosted by work on a string of high-profile stock market floats – including the record-breaking initial public offering (IPO) of Elon Musk’s SpaceX.
Goldman Sachs, Morgan Stanley, JP Morgan, Citigroup and Bank of America all worked on the listing, raking in huge fees in the process.
