The top investment banking companies are typically banks with large market capitalization or market cap. A bank’s market cap is the value of its shares owned by stockholders. Companies with high market caps are typically very powerful since they’re worth a lot of money and play significant roles in the economy.
Investment banks primarily help large companies and governments raise capital, so investment banking is inherently a global industry. Some of the world’s largest investment banking companies are not based in the U.S., but these international banks still make up a large portion of the market stateside. We’ve compiled a list of the top investment banks in the U.S. based on market capitalization.
1. JPMorgan Chase
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Market cap: $543.04 billion
Total consolidated assets: $3.4 trillion
With roots stretching back to the 18th century, JPMorgan Chase is a multinational bank formed by a merger of the Chase Manhattan Corporation and J.P. Morgan & Co. in December 2000. Presently, JPMorgan Chase offers a variety of financial services, ranging from investment banking and asset management to credit cards and retail banking.
2. Bank of America
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Market cap: $280.31 billion
Total consolidated assets: $2.5 trillion
Headquartered in Charlotte, North Carolina, Bank of America is the second-largest bank in the world by market cap and the eighth largest by total consolidated assets. Bank of America mainly handles commercial banking, investment banking, and wealth management.
3. Morgan Stanley
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Market cap: $142.35 billion
Total consolidated assets: $209 billion
Morgan Stanley is a multinational financial services company and investment banking institution headquartered in New York City. Although its founders were partners at JPMorgan in the mid-1930’s, Morgan Stanley now operates as an entirely separate entity from JPMorgan Chase.
4. Wells Fargo
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Market cap: $204.18 billion
Total consolidated assets: $1.7 trillion
Wells Fargo is a global financial services institution, and a member of America’s Big Four banks. In addition to investment banking and asset management services, Wells Fargo has commercial and retail banking operations. Although Morgan Stanley may have a slightly higher market capitalization, Wells Fargo holds considerably more consolidated assets.
5. Goldman Sachs
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Market cap: $126.00 billion
Total consolidated assets: $521.1 billion
Goldman Sachs is consistently one of the top investment banks in the world based on global revenue. Goldman Sachs has only two domestic branches and offers investment banking services, in addition to financial products like commercial banking and brokerage services.
6. Charles Schwab
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Market cap: $122.56 billion
Total consolidated assets: $493.2 billion
Charles Schwab was founded in San Francisco, California in 1971. Since then, it has grown to become one of the largest banks in the United States by assets and a global force in the investment banking and wealth management space. Charles Schwab also offers consulting and advisory services to retail and corporate clients.
7. Citigroup (Citi)
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Market cap: $109.92 billion
Total consolidated assets: $1.7 trillion
Citigroup is a multinational investment bank and the holding company for a number of subsidiaries, including Citicorp and Citibank. Although Citibank isn’t at the top of the list by market cap, Citi holds significantly more consolidated assets than Goldman Sachs or Morgan Stanley.
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