The top investment banks in 2026. A brief guide from Morgan Stanley

Top Investment Banks of 2026

Have you been wondering about the top investment banks of 2026? If so, Morgan Stanley’s investment bank analysts have released some insightful charts that provide a glimpse into the future of the banking industry.

Key Findings

The charts analyze historic revenue figures for 2023 and 2024, along with estimated revenue figures for 2025 and projections for 2026-2028. The analysis focuses on three key business areas: the investment banking division (IBD), equities sales and trading, and fixed income, currencies, and commodities (FICC) sales and trading.

According to Morgan Stanley’s analysis, the top investment banks by total revenues are JPMorgan, Goldman Sachs, Citi, and Bank of America. However, it’s important to note that Morgan Stanley itself is not included in the analysis.

When looking at specific business areas, JPMorgan, Goldman Sachs, and Bank of America emerge as the top players in the IBD category, while Goldman Sachs, JPMorgan, and BAC lead in equities sales and trading. In the FICC segment, JPMorgan, Citi, and Goldman Sachs are the top performers.

Growth Trends

The charts also highlight interesting growth trends in the industry. For example, Nomura’s FICC franchise is seen as shaky by Morgan Stanley’s estimation. Additionally, US banks have generally experienced faster revenue growth compared to their European counterparts, with the exception of FICC at Deutsche and Barclays.

Looking ahead to 2026, there may be challenges for equities sales and trading professionals, following a strong performance in 2024 and 2025.

Charts

For more detailed information, please refer to the original article here.