The Biggest Investment Banks in the US: Maybe you always thought investment banks are the same as regular banks, you are not exactly wrong. Investment banks are dedicated to helping institutions such as government bodies, businesses, corporations, and individuals analyze risks and take preventive measures in case of a large project, investment, acquisition, merger, or sale of stocks. They also engage in the sales of securities to interested buyers, define investment risks, offer guidance, and advise where and when necessary.
Now that you know what an investment bank is, it is important to know who an investment banker is.
An investment banker works with an investment bank to help needy institutions and individuals with choice in risk-taking, and avoid likely problems in the planning and execution of major projects such as investments towards expansion.
Investment bankers are sometimes thought to be the same as Underwriters. Though they may have similar job functions, they are not the same. While investment bankers are all about organizing large complicated financial transactions for businesses, institutions, and individuals; Underwriters, on the other hand, are the risk-takers who after making their research would ascertain by signing a document, that an individual or corporate body can take a financial risk such as an investment, loan or insurance for a specified premium.
Both of these professionals are needed in the running of any investment bank. In this article, we would be looking at the biggest investment banks in the United States in no particular order of hierarchy.
Partnership, integrity in the advancement of sustainable economic growth, and development of various financial opportunities have been the purpose and drive of the Goldman Sachs investment bank established some 150+ years ago. Goldman Sachs has earned for itself a global name as one of the top investment banks, managing assets worth $1,555.94 Billion and over 49,000 employees who attest to the work-life balance that comes with working for Goldman Sachs Inc.
This particular investment bank specializes in asset management and personal financial management for several corporations, institutions, and individuals all over the world.
Goldman Sachs’s commitment to client service has given it an edge over many of its competitors, this can be seen through its offers of analytics to help its clients refine their market views, create and implement trading strategies, and hedge any possible risks.
With several success stories and a regular increase in the boasting of some of the top investment bankers in the states and beyond, it is safe to say that Goldman Sachs deserves their seat as one of the best investment banks you can find around.
J.P. Morgan Chase & Co.
Renowned in the commercial and investment banking sectors, J.P. Morgan Chase is one of the oldest and leading global financial firms established over 200 years ago under the name J.P. Morgan. It was not until December 2000 that the merging of two global and outstanding financial services J.P. Morgan & Co, and Chase Manhattan Corporation, became what is now known as J.P. Morgan Chase & Co.
While the Chase brand looks to the commercial banking aspect, J.P. Morgan Inc specializes in investment banking and is accredited as the world’s largest bank by capitalization, J.P. Morgan manages assets of almost $4 Trillion for several individuals, businesses, and several government projects.
Unlike its competitors, J.P. Morgan stands out by lending to similar businesses, small businesses, and individuals alike via credit cards, loans, and its associated plans with several investors. This act contributed to earning them #1 in cash management and digital platform capabilities in the Greenwich Associates Digital Banking Benchmarking Study carried out in 2020.
Bank Of America
Dedicated to driving responsible growth and meeting every need of its customers’ Bank of America is widely known as one of the largest banking institutions in the U.S. Meeting not only the needs of institutions and corporations seeking large investment guidance and management, the Bank of America also serves several individuals in their various financial journey or stages with the power to get things done even with their low earnings.
Established some 240 years ago with a culture that seeks to serve its clients while creating room for responsible growth among its employees. With assets of over $1 trillion in its AUM, most of which are gotten from stock sales, interests, returns on investment government securities, consumer banking, and credit cards.
The Bank of America offers more noninterest deposits than any of its competitors, giving it access to help address some of society’s biggest challenges whilst earning more money than its competitors when interest rates rise. This noninterest plan has helped establish several successful small and medium businesses.
Another edge it has over its competitors comes by also offering low costs in providing financial services for its clients across every financial stage.
There is so much to tell about these banks, for further inquiries you can visit their official websites. It would do a great deal for your CV if you ever get to work at any of them but be well informed that their recruitment rate is lesser than several others. So, to save yourself a spot in these leading institutions up your soft skills and add to your technical skills