The United States is home to some of the world’s most influential investment banks. These financial  institutions help companies raise money, complete mergers and acquisitions, launch initial public  offerings (IPOs), issue bonds and shares, and make major strategic financial decisions. 

Investment banking is an important part of the U.S. financial industry because it connects businesses  that need capital with investors looking for opportunities. Some firms operate as large universal  banks with commercial banking and wealth-management businesses, while others specialize  primarily in investment banking and financial advisory services. 

Based on investment-banking fees, M&A activity, capital-markets capabilities, and overall presence in  the U.S. market, here are the top 10 investment banks in the USA. 

Top 10 Investment Banks in USA – Quick Overview 

Rank	Investment Bank	Headquarters	Founded	Key Strength
1	JPMorgan Chase	New York City, New York	1799	M&A, capital markets, corporate finance
2	Goldman Sachs	New York City, New York	1869	M&A, IPOs, advisory
3	Morgan Stanley	New York City, New York	1935	M&A, equity and debt markets
4	Bank of America Securities	Charlotte, North Carolina	1998	Corporate finance, M&A, capital markets
5	Citigroup	New York City, New York	1998	Global banking, M&A, capital markets
6	Barclays	London, UK	1690	M&A, equity and debt capital markets
7	Wells Fargo Securities	San Francisco, California	1852	Corporate banking, M&A, capital markets
8	Jefferies	New York City, New York	1962	M&A, equity and debt financing
9	Evercore	New York City, New York	1995	M&A and strategic advisory
10	Centerview Partners	New York City, New York	2006	M&A and strategic advisory

The ranking reflects a combination of investment-banking scale, advisory activity, capital-markets  capabilities and market presence. Current league-table data shows the strength of the leading firms:  JPMorgan ranked first in global investment-banking fees in 2026 year-to-date data, while Goldman  Sachs ranked first for M&A fees.

1. JPMorgan Chase 

JPMorgan Chase is one of the largest and most established financial institutions in the United States.  Its investment-banking operations serve corporations, financial institutions, governments and  institutional investors around the world. 

The bank provides services ranging from mergers and acquisitions to debt and equity financing. Its  large corporate-banking network gives JPMorgan access to businesses across industries and company  sizes. 

JPMorgan was the leading institution in global investment-banking fees in the Financial Times’ 2026  year-to-date league tables, generating approximately $6.65 billion in fees through July 1, 2026. It also  ranked first in the United States by investment-banking fees. 

Key Services 

• Mergers and acquisitions 

• Equity and debt underwriting 

• Corporate finance 

• Strategic advisory 

• Capital markets 

• Corporate banking 

2. Goldman Sachs 

Goldman Sachs is one of the most recognizable names on Wall Street and has a long history in  investment banking. Founded in 1869, the firm works with corporations, governments, financial  institutions and investors. 

Goldman Sachs is particularly well known for M&A advisory, equity underwriting and strategic  financial advice. Its bankers regularly work on some of the largest corporate transactions in the  world. 

In 2026 year-to-date data through July 1, Goldman Sachs ranked first globally for M&A fees at  approximately $2.71 billion. It also led equity fees with around $1.16 billion. 

Key Services 

• M&A advisory 

• IPOs 

• Equity underwriting 

• Debt financing 

• Restructuring 

• Asset management 

3. Morgan Stanley

Morgan Stanley is another major U.S. investment bank with operations spanning investment  banking, securities, wealth management and investment management. 

The firm advises companies on acquisitions, divestitures, capital raising and other strategic  transactions. Its strong presence in equity and debt markets also makes it an important partner for  companies seeking financing. 

Morgan Stanley ranked third in the 2026 year-to-date global investment-banking fee table, with more  than $2 billion in fees through July 1. Its equity fees were also among the highest in the industry. 

Key Services 

• M&A 

• Equity capital markets 

• Debt capital markets 

• Corporate advisory 

• Wealth management 

4. Bank of America Securities 

Bank of America Securities is the investment-banking and capital-markets business of Bank of  America. It works with corporations, financial institutions, private-equity firms and other  organizations. 

The firm offers advice on acquisitions and strategic transactions while also helping companies raise  capital through stocks, bonds and other financial instruments. 

Bank of America Securities ranked among the leading firms in both M&A and equity underwriting  activity. In 2026 year-to-date equity fees, it ranked fourth globally, behind Goldman Sachs, JPMorgan  and Morgan Stanley. 

Key Services 

• M&A advisory 

• Equity financing 

• Debt financing 

• Corporate banking 

• Capital markets 

• Restructuring 

5. Citigroup 

Citigroup is a major global financial institution with a significant investment-banking and markets  business. Its international network is particularly useful for companies involved in cross-border  transactions. 

Citi works with corporations and institutions on M&A, debt financing, equity offerings and other  capital-markets activities.

The firm remained one of the leading investment banks in 2026 equity and loan markets. Citi  generated approximately $750 million in global investment-banking fees in the Financial Times’ year to-date 2026 league table through July 1. 

Key Services 

• M&A advisory 

• Equity capital markets 

• Debt capital markets 

• Corporate finance 

• Global markets 

6. Barclays 

Barclays is headquartered in the United Kingdom but has a substantial investment-banking business  in the United States. Its corporate and investment bank serves clients across industries and  geographic markets. 

The firm provides advisory and financing services covering M&A, equity offerings, bonds and other  capital-market transactions. 

Barclays ranked among the top investment banks in 2026 global investment-banking fees and was  also among the leading firms in equity underwriting. 

Key Services 

• M&A advisory 

• Equity capital markets 

• Debt capital markets 

• Corporate finance 

• Strategic advisory 

7. Wells Fargo Securities 

Wells Fargo Securities is the investment-banking and capital-markets arm of Wells Fargo. The  company benefits from Wells Fargo’s extensive commercial-banking relationships across the United  States. 

Its investment-banking teams advise companies on acquisitions, financing, restructuring and  strategic decisions. The firm also participates in equity and debt markets. 

Wells Fargo has shown strong growth in recent capital-markets activity. In 2026 year-to-date equity  underwriting fees, the firm ranked among the industry’s top 10, with fees increasing substantially  from the comparable period. 

Key Services 

• M&A 

• Debt financing

• Equity financing 

• Corporate banking 

• Capital markets 

8. Jefferies 

Jefferies is a leading independent investment bank and financial-services company. Unlike universal  banks such as JPMorgan and Bank of America, Jefferies places greater emphasis on investment  banking, capital markets and financial advisory. 

The firm works with companies, investors and financial sponsors on acquisitions, financing and  restructuring transactions. It has developed expertise across industries including healthcare,  technology, energy and industrials. 

Jefferies recorded strong growth in equity underwriting during 2026. Its equity fees rose by  approximately 180% compared with the previous period in the Financial Times’ year-to-date data  through July 1. 

Key Services 

• M&A 

• Equity offerings 

• Debt financing 

• Restructuring 

• Financial advisory 

9. Evercore 

Evercore is one of the leading independent investment-banking advisory firms in the United States.  The company focuses heavily on strategic advisory and does not operate a traditional consumer or  commercial banking business. 

Evercore is particularly well known for advising boards and companies on complex M&A  transactions. Its independent structure allows it to focus primarily on advisory work. 

Evercore ranked fourth in global investment-banking fees in the Financial Times’ 2026 year-to-date  data, generating approximately $1.41 billion in fees through July 1. Its fees increased by about 69%  compared with the previous period. 

Key Services 

• M&A advisory 

• Strategic advisory 

• Restructuring 

• Capital-markets advisory 

• Shareholder advisory 

10. Centerview Partners

Centerview Partners is an independent investment-banking advisory firm founded in 2006. It focuses  primarily on strategic advice, M&A and corporate transactions. 

The firm has built a strong reputation for advising companies and boards on complex and high-value  transactions. Unlike large universal banks, Centerview concentrates heavily on advisory rather than  commercial banking. 

Centerview ranked fifth in global investment-banking fees in the Financial Times’ 2026 year-to-date  league table, with approximately $1.15 billion in fees through July 1. 

Key Services 

• M&A advisory 

• Strategic advice 

• Corporate finance 

• Board advisory 

• Restructuring 

What Do Investment Banks Do? 

Investment banks provide financial services that help companies and institutions make major  financial decisions. Their work can involve raising money, acquiring businesses or restructuring  existing operations. 

Mergers and Acquisitions 

M&A is one of the most important areas of investment banking. When one company wants to  purchase another business or two companies plan to merge, investment bankers can help with  valuation, negotiations, deal structure and financing. 

Raising Capital 

Businesses often need large amounts of capital to expand, acquire other companies or invest in new  projects. Investment banks help companies raise this money by issuing shares or bonds. 

Initial Public Offerings 

An IPO allows a private company to become publicly traded. Investment banks help prepare the  offering, coordinate with investors, determine pricing and manage the transaction. 

Financial Advisory 

Investment banks also provide strategic advice to corporate executives and boards. This can include  advice about acquisitions, divestitures, restructuring and other major financial decisions. 

Investment Banking Industry in the USA 

The United States remains one of the world’s most important investment-banking markets. New York  is the country’s best-known financial center, while major investment-banking operations are also  located in cities such as Chicago, Boston, San Francisco, Charlotte and Los Angeles.

The industry includes both large universal banks and independent advisory firms. Large banks such  as JPMorgan, Goldman Sachs, Morgan Stanley, Bank of America and Citi can provide clients with  investment banking alongside financing, markets and other financial services. 

Independent firms such as Evercore and Centerview Partners take a different approach by  concentrating heavily on advisory and M&A. This allows them to compete for major transactions  despite having much smaller operations than the largest banking groups. 

Investment-banking activity has also strengthened across several areas in 2026. Financial Times data  through July 1 showed global investment-banking fees increasing across major categories, while  equity fees were up 55% compared with the previous period. 

Why Are Investment Banks Important? 

Investment banks help businesses access the capital and expertise they need to grow. A company  planning an acquisition, IPO or major financing transaction may require specialized knowledge of  markets, valuations, regulations and investors. 

These banks also play an important role in connecting companies with institutional investors. Their  work can help facilitate transactions that would otherwise be difficult or costly for businesses to  execute independently. 

Conclusion 

The U.S. investment-banking industry is dominated by a mixture of large global banks and specialized  advisory firms. JPMorgan Chase, Goldman Sachs and Morgan Stanley remain among the strongest  overall investment-banking franchises, while Bank of America Securities, Citi, Barclays and Wells  Fargo Securities provide extensive corporate and capital-markets services. 

At the same time, independent firms such as Jefferies, Evercore and Centerview Partners continue  to compete successfully for major transactions. Current 2026 league-table data demonstrates the  strength of both business models, with large banks leading in overall scale and independent firms  maintaining significant positions in M&A and advisory. 

As companies continue to pursue acquisitions, raise capital and enter new markets, investment  banks will remain an important part of the U.S. financial ecosystem. 

FAQs 

1. Which is the largest investment bank in the USA?

JPMorgan Chase is one of the largest investment-banking institutions in the United States. It ranked first in global investment-banking fees in 2026 year-to-date data through July 1.

2. Is Goldman Sachs an investment bank?

Yes. Goldman Sachs is one of the world’s leading investment banks and provides M&A advisory, underwriting, financing, and other financial services.

3. What does an investment bank do?

Investment banks help companies raise capital, complete M&A transactions, issue securities, and make major strategic financial decisions.

4. What is M&A?

M&A stands for mergers and acquisitions. It refers to transactions in which companies combine with or purchase other businesses.

5. What is an IPO?

An initial public offering, or IPO, is the process through which a private company offers its shares to the public and becomes publicly traded.

6. Which investment banks specialize in M&A?

Goldman Sachs, JPMorgan Chase, Morgan Stanley, Evercore, and Centerview Partners are among the major firms known for M&A advisory.

7. Are investment banks and commercial banks the same?

No. Investment banks primarily focus on activities such as M&A, securities underwriting, and capital markets, while commercial banks traditionally focus on deposits, loans, and other banking services. Some large financial institutions operate both types of businesses.

8. Is Barclays a U.S. investment bank?

Barclays is headquartered in the UK, but it has a major investment-banking operation in the United States and competes in the U.S. market.

9. What are boutique investment banks?

Boutique investment banks are generally specialized firms that focus on areas such as M&A, restructuring, or strategic financial advisory.

10. Why are investment banks important?

Investment banks help companies access capital, execute complex transactions, and receive professional financial advice. They also connect businesses with investors and help facilitate major transactions.