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Goldman Sachs lags Wall Street rivals with 26% decline in dealmaking fees
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Goldman Sachs posted the sharpest drop — 26% — in dealmaking fees of any of its Wall Street rivals in the first quarter, while a 17% decline in fixed income trading also helped push revenue in its investment bank down by 16% during the period.
The Wall Street bank's dealmaking fees slipped in the first three months of the year as a steep drop in M&A activity during the period weighed on its overall investment bank. While rivals including Bank of America, Citi and JPMorgan have all offset dealmaking declines by robust trading...
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