Wall Street banks see investment banking improvement, with some caution

📆 7/12/2024 11:12 PM
📰 Reuters

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Wall Street banks reported a healthier pipeline for deals and a jump in investment banking activity in quarterly earnings on Friday, but also cited some headwinds and reasons for caution.

Citi CFO highlights strong deal pipeline but notes potential election and interest rate impactsJuly 12 - hit $1.6 trillion globally in the first half of the yearCiti's chief financial officer, Mark Mason, told reporters on a call after the earnings that the pipeline of announced deals was looking strong, which would play out at the end of the year and in 2025.

JPM's CFO, Jeremy Barnum, said on a conference call that dialogue on M&A was "robust" but was still muted in terms of actual deals. Wells Fargo CFO Mike Santomassimo said on a call that the bank has seen good activity across the investment grade desk, capital markets and the leverage finance business.

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