Goldman Leads in IPO Fees: Report - TheStreet

Goldman Leads in IPO Fees: Report

Goldman Sachs earned the most from IPO fees in 2009 while Citigroup's IPO income dropped by 50%, Bloomberg data show.
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Goldman Sachs (GS) - Get Report earned the most from the $923 million in fees stemming from U.S. initial public offerings this year, while Citigroup (C) - Get Report disappeared from the Top 5 IPO banks after its fee income dropped by 50% , according to an analysis of fee data compiled by Bloomberg .

Goldman Sachs made $191.6 million;

Bank of America

(BAC) - Get Report

placed second with $158.2 million in fee income after helping arrange the largest number IPOs this year but charging below average fees;

Morgan Stanley

(MS) - Get Report

more than quadrupled the amount it made from underwriting IPOs to $156.1 million;

JPMorgan Chase

(JPM) - Get Report

made $105.4 million and charged the industry's highest fees;

Deutsche Bank

(DB) - Get Report

received $53.7 million in IPO fees this year and Citigroup fees dropped to $68.3 million, according to Bloomberg.

Banks increased IPO fees to 5.63% in 2009 from a record low of 3.48% in 2008 even as the amount that U.S. companies raised decreased by almost half to $16.4 billion this year, according to Bloomberg data. Almost 40% of offerings in the second half of 2009 left buyers with losses, Bloomberg reported.

This article was written by a staff member of