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Thomson Financial's standard league tables are rankings of Investment Banks in terms of the dollar volume of deals they work on. New standard league table sessions in compliance with 2004 league table criteria for Debt, Equity, Syndicated Loans, Project Finance and M&A are currently available. Notice that this is revenue and dollar volume of securities issued (in underwriting) or transaction size (in M&A), not profatibility.
M&A League Tables criticisms
For example, in the mergers and aquisitions category, the purchase prices of the aquisitions that an Investment Bank advises on are added up, and Investment Banks are ranked in this way.
Critics say that these tables are very deceiving. Many of the rankings do not take into account how much money the investment bank is paid, so that someone can give away their advice for free and be ranked number one yet obviously make no money. Secondly, credit for advice or deals is often given to companies who didn't really work on a deal, in order to please that company. In short, critics lambast the league tables as a tool for Investment Banker's egos.
Debt & Equity
2004
Underwriting Leaders Jan 1, 2004 - Dec 31, 2004 (based on $ value)
| Market Sector | # 1 Ranked Bookrunner | Proceeds ($ mils) | Market Share (%) | # of issues | Mrkt size ($ mils)
|
| Stock & Bonds
|
| Global Debt, Equity & Equity-related | Citigroup | 542,748.5 | 9.4 | 1,892 | 5,693,011.6
|
| Global Disclosed Fees | Citigroup | 1,717.4 | 11.1 | 724 | 15,400.6
|
| Stocks
|
| Global Equity & Equity-related | Goldman Sachs | 46,142.0 | 11.9
|
| Global Convertible Offerings | JP Morgan | 21,550.8 | 13.1
|
| Global Common Stock- U.S. Issuers | Goldman Sachs | 12,763.1 | 16.2
|
| Global Initial Public Offerings - U.S. Issuers | Goldman Sachs | 2,657.9 | 19.2
|
| Bonds
|
| Global Debt incl. MBS, ABS & U.S. Tax Munis | Citigroup | 486,758.6 | 9.4 | 1,620 | 5,187,013.8
|
| Global High Yield Corporate Debt | Credit Suisse First Boston | 22,791.3 | 15.6
|
| US Investment Grade | Citigroup | 135,196.2 | 20.5
|
| All US Federal Credit Agency Debt | Merrill Lynch & Co. Inc. | 96,512.0 | 11.2 | 721 | 861,750.8
|
| US Mortgage-backed Securities | Bear Stearns & Co. Inc. | 90,073.8 | 12.4 | 130 | 729,306.4
|
| US Asset-backed Securities | Citigroup | 64,915.7 | 11.2
|
| Global Loans | JP Morgan | 430,208.7 | 32.1 | 1,014 | 1,339,007.3
|
| Syndicated Loans
|
| U.S. Syndicated Loans | JP Morgan | 277,361.4 | 28.3
|
| U.S. Leveraged Loans | JP Morgan | 82,218.5 | 22.3
|
2003
Underwriting Leaders Jan 1, 2003 - Dec 31, 2003 (based on $ value)
| Market Sector | # 1 Ranked Bookrunner | Market Share (%) | Proceeds ($ mils)
|
| Stock & Bonds
|
| Global Debt, Equity & Equity-related | Citigroup | 10.2 | 542,748.5
|
| Global Disclosed Fees | Citigroup | 12.2 | 1,760.2
|
| Stocks
|
| Global Equity & Equity-related | Goldman Sachs | 11.9 | 46,142.0
|
| Global Convertible Offerings | JP Morgan | 13.1 | 21,550.8
|
| Global Common Stock- U.S. Issuers | Goldman Sachs | 16.2 | 12,763.1
|
| Global Initial Public Offerings - U.S. Issuers | Goldman Sachs | 19.2 | 2,657.9
|
| Bonds
|
| Global Debt incl. MBS, ABS & U.S. Tax Munis | Citigroup | 10.2 | 501,813.5
|
| Global High Yield Corporate Debt | Credit Suisse First Boston | 15.6 | 22,791.3
|
| US Investment Grade | Citigroup | 20.5 | 135,196.2
|
| All US Federal Credit Agency Debt | Deutsche Bank | 8.6 | 101,974.2
|
| US Mortgage-backed Securities | UBS AG | 11.6 | 104,061.6
|
| US Asset-backed Securities | Citigroup | 11.2 | 64,915.7
|
| Global Loans | JP Morgan | 17.5 | 336,230.6
|
| Syndicated Loans
|
| U.S. Syndicated Loans | JP Morgan | 28.3 | 277,361.4
|
| U.S. Leveraged Loans | JP Morgan | 22.3 | 82,218.5
|
Mergers & Acquisitions
2004
Mergers & Acquisitions Leaders 1/1/2004 - 12/31/2004 (based on $ value)
| Market Sector | # 1 Ranked Advisor | Market Share (%) | Rank Value $US mil
|
| Worldwide Announced Financial Advisors | Goldman Sachs & Co | 29.6 | 576,664.3
|
| Worldwide Announced Legal Advisors | Sullivan & Cromwell | 22.1 | 430,160.1
|
| Worldwide Completed Financial Advisors | Goldman Sachs & Co | 31.0 | 356,182.1
|
| Worldwide Completed Legal Advisors | Sullivan & Cromwell | 33.0 | 500,244.3
|
| US Announced Financial Advisors | JP Morgan Chase | 32.5 | 270,792.4
|
| US Announced Legal Advisors | Skadden, Arps, Slate, Meagher & Flom | 30.5 | 254,428.2
|
| US Completed Financial Advisors | Goldman Sachs & Co | 36.0 | 269,476.7
|
| US Completed Legal Advisors | Sullivan & Cromwell | 30.8 | 230,415.3
|
2003
Mergers & Acquisitions Leaders Jan 1, 2003 - Dec 31, 2003 (based on $ value)
| Market Sector | # 1 Ranked Advisor | Market Share (%) | Rank Value $US mil
|
| Worldwide Announced Financial Advisors | Goldman Sachs & Co | 29.5 | 392,699.5
|
| Worldwide Announced Legal Advisors | Skadden, Arps, Slate, Meagher & Flom | 13.2 | 175,812.9
|
| Worldwide Completed Financial Advisors | Goldman Sachs & Co | 31.0 | 356,182.1
|
| Worldwide Completed Legal Advisors | Linklaters | 17.9 | 205,727.4
|
| US Announced Financial Advisors | Goldman Sachs & Co | 45.6 | 239,420.6
|
| US Announced Legal Advisors | Simpson Thacher & Bartlett | 19.5 | 102,569.8
|
| US Completed Financial Advisors | Goldman Sachs & Co | 44.9 | 200,854.1
|
| US Completed Legal Advisors | Skadden, Arps, Slate, Meagher & Flom | 27.3 | 122,171.0
|
Syndicated Loans
Project Finance
Municipals
See also
External links
