Investment banking is a type of banking that supports large-scale financial transactions and complex deals such as mergers and acquisitions, often providing services to enterprise-level clients and high-net-worth individuals (HNWIs).
While the scope of services provided by investment banks are broadly very similar, there are several core features that can make specific banks stand out from the crowd. This list will break down the top 6 best investment banks in 2024, highlighting each option’s key features and ranking them according to their reputation.
List of the 6 best investment banks in 2024
JPMorgan Chase
Goldman Sachs
Morgan Stanley
Bank of America
Citigroup
Credit Suisse
How to find the best investment banks and what to look out for
Selecting the right investment bank involves several important considerations, as you need to ensure that your chosen institution is reputable and reliable. Here are some of the key features that differentiate the top investment banks:
Strong reputation and track record for success: Look into the bank’s reputation in the financial industry, including its track record for successful deals. You may also want to check for any regulatory breaches that might raise concerns.
Global presence and expertise: A global presence is usually a strong signal, but you’ll also want to consider if the bank has the right level of expertise in the specific areas of investment banking that you need — whether it’s mergers and acquisitions, capital markets, or other advisory services.
Financial strength: Assess the financial stability and strength of the bank in question. A strong financial position indicates the bank’s ability to weather economic fluctuations and support its clients effectively.
Analyzing these factors can provide a great level of insight into the best investment banks in the world, which can make all the difference when making deals.
Ranking the 6 best investment banks in 2024
This section will dive into the 6 best investment banks in 2024, covering each option’s core offering and its most prominent characteristics.
1. JP Morgan Chase
JP Morgan Chase (JPM) is a prominent investment bank that has a strong global presence. The company has offices and operations in all major financial centers worldwide, allowing it to offer comprehensive investment banking services across a variety of geographical markets.
Mergers and acquisitions (M&A) advisory, capital raising, restructuring, risk management, and strategic advisory are among the core services offered by JP Morgan’s investment banking arm. The bank is well known for its deep industry expertise, offering more than 150 years of banking experience and controlling more than $4 trillion worth of assets across all its operations, making it one of the leading banks in the world.
JP Morgan prioritizes strong client relationships at the core of its operations, valuing long-term partnerships where the bank can commit to providing quality financial solutions. The bank works closely with clients to understand their goals, challenges, and opportunities, offering strategic advice and support throughout the investment banking process. This is a very similar approach to its private banking offering.
Key features:
Comprehensive investment banking services
Global presence
Well-established and highly trusted brand
2. Goldman Sachs
Goldman Sachs (GS), renowned for its comprehensive suite of investment banking options, is characterized by its capital markets leadership. The bank excels in debt and equity raising, initial public offerings (IPOs), secondary offerings, and private placements, offering a strong network of investors across the globe.
Additionally, Goldman Sachs is a leading investment bank for M&A advisory, offering strategic advice and execution services for mergers, acquisitions, divestitures, and joint ventures. The bank’s extensive experience in structuring deals and valuing companies makes it a great choice for firms seeking a reliable investment bank.
Additional investment banking services offered by Goldman Sachs include effective risk management solutions, helping clients to navigate market volatility, currency risks, interest rate risks, and other financial exposures. It’s also worth noting that Goldman Sachs is one of the few major banks that are crypto-friendly.
Key features:
Reliable investment banking services
Broad product offering
Well-established and highly trusted brand
3. Morgan Stanley
Morgan Stanley (MS) is recognized for its strong investment banking capabilities. Like JP Morgan and Goldman Sachs, Morgan Stanley offers a comprehensive range of investment banking services to clients including M&A advisory, capital markets leadership, and risk management solutions.
The bank is well-known for its large-scale operations in the US and beyond. With $1.2 trillion worth of assets under its custody as of December 2023, Morgan Stanley has vast resources at its disposal and deep industry expertise on the payroll.
A significant global presence offers Morgan Stanley exposure to a broad range of markets, helping the bank to secure advantageous deals for its clients across many different sectors. Cross-border advisory services, coupled with a strong brand identity and long-standing reputation for success, make Morgan Stanley a great choice for firms seeking a new investment bank.
Key features:
Comprehensive investment banking services
Global presence
Deep industry expertise
4. Bank of America
Bank of America’s (BAC) investment banking services offer several standout features that set it apart in the industry. Diverse service offerings such as M&A advisory and capital raising allow the institution to cater to various client needs and requirements, and its deep in-house expertise allows it to provide services across sectors such as technology, healthcare, energy, consumer goods, and many more.
Bank of America is one of the most prominent banks in the United States, especially in states like Florida, and it also has a presence in leading financial centers around the world. The bank largely emphasizes a client-centric approach, focusing on building long-term relationships and delivering value-added solutions.
By working closely with clients to understand their goals, risks, and opportunities, Bank of America can provide strategic advice and top-level execution services for a wide variety of investment banking requirements.
Key features:
Comprehensive investment banking services
Deep industry expertise
Client-centric approach
5. Citigroup
Citigroup (C) offers a range of standout features in its investment banking arm, including a focus on innovation and technology to provide modern banking solutions for its clients. Like many large-scale investment banks, Citigroup uses cutting-edge data analytics and digital collaboration tools to provide unrivaled levels of insight into the current state of global financial markets.
Deep industry expertise across sectors such as technology, healthcare, financial services, energy, and consumer goods allows Citigroup to provide tailored advice based on specific industry dynamics. Within this framework, the bank provides a comprehensive suite of investment banking services that can cater to diverse client needs and requirements.
With more than $2.4 trillion worth of assets under its custody, Citigroup is one of the largest and most widely-trusted banking institutions in the US. On top of that, its global presence and client-centric approach can provide its clients with elite opportunities for enterprise.
Key features:
Comprehensive investment banking services
Global presence
Client-centric approach
6. Credit Suisse
Credit Suisse (CS) has a strong global presence with offices in major financial centers worldwide. This global reach enables them to offer cross-border advisory services, access to international markets, and a diverse network of clients and partners.
The bank is known for its expertise in M&A advisory, providing strategic guidance and execution services for mergers, acquisitions, divestitures, joint ventures, and corporate restructuring. Credit Suisse’s track record of successful deal-making across various industries is coupled with demonstrable prowess in capital markets, helping clients to raise both debt and equity capital among other services.
These standout features collectively position Credit Suisse as a leading investment bank, known for its global presence, expertise in M&A and capital markets, industry specialization, innovation, client-centric approach, risk management solutions, and sustainability focus.
Key features:
Leading investment bank
Global presence
Expertise in M&A and capital markets
The bottom line
Investment banks provide a broad range of financial services to corporations and individuals alike. However, it’s essential to choose a bank that has a strong track record and deep industry expertise.
To learn more about investment banking, check out our article on the differences between private equity and investment banking.