00:00Six biggest banks indeed did see a comeback in dealmaking. A common theme that emerged was that debt and equity
00:05underwriting often missed estimates while M&A advisory rose more than expected.
00:10Not so at Goldman Sachs, whose bankers currently rank number one in the M&A league table. The firm posted
00:16an almost 50 percent increase in overall investment banking fees.
00:21J.P. Morgan recorded $2.9 billion in investment banking revenue with nearly $1.3 billion in M&A fees.
00:28That's an 82 percent jump.
00:30While Morgan Stanley's investment banking fees increased 36 percent to $2.12 billion.
00:36As for the outlook, Goldman's backlog of investment banking fees decreased slightly from year end.
00:42But the CEO David Solomon said public offering activity will rebound once conditions stabilize.
00:48And according to Bank of America's CFO, it remains a good deal environment.
00:52Citi's CFO agreed as well, saying that the start of the second quarter was helped by a few transactions that
00:58were bumped up from the preceding period.
01:00But warned that if the Iran conflict remains in place for a very long time, that could impact M&A
01:06in the second half of the year.
01:08And here's what Morgan Stanley CEO Ted Pick told us exclusively earlier today.
01:13If the conflict can be boxed at some level, would we expect the coming to the market of these great
01:23companies, but also smaller, very high quality sponsor companies to either come via IPO or to engage in the M
01:32&A trade that has been sort of the logjam the last couple of years.
01:35And I think we're seeing in pipelines that both corporates and sponsors want to come.
01:41Danny, deals are certainly back in focus for the big banks.
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