Morgan Stanley (MS) is the lead banker on Facebook's IPO, but JPMorgan (JPM) entrenched itself as the No. 2, which could mean bigger things down the line for its investment banking division. IPOs bring in big fees for banks, which are precious at a time of weak trading revenue thanks to stricter regulations.
JPMorgan isn't known for bringing technology companies public, so being ahead of Goldman Sachs (GS) in underwriting Facebook was a real coup.Last year, JPMorgan purchased a significant stake in Twitter, so perhaps the tech juggernaut will keep rolling under CEO Jamie Dimon and his banking team. Shares of JPMorgan have gained 9% this year.
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