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Investment banking is back — and the recovery is just getting started

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Jpmorgan Chase & Co News

Citigroup Inc,Bank Of America Corp,Goldman Sachs Group Inc

Revenues from Wall Street dealmaking surged, which helped to offset weakness from the Federal Reserve's high interest rates.

Investment banking was the rock star of big bank earnings this season. Club holdings Morgan Stanley and Wells Fargo , along with JPMorgan Chase , Goldman Sachs , Bank of America and Citigroup , saw double-digit percentage growth in revenues for their investment banking businesses. Meanwhile, fees from the five largest U.S. investment banks, which include Morgan Stanley, Goldman, JPMorgan, Citi and Bank of America, came in at roughly $8.

A combination file photo shows Wells Fargo, Citibank, Morgan Stanley, JPMorgan Chase, Bank of America and Goldman Sachs.

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