CS Leads IB Revenue Chase

With just a month remaining in the year, Credit Suisse holds the top position for LatAm investment banking revenue as of November 29, according to Dealogic. The Swiss bank has booked $163m, or 10.7% share, to lift it from the $141m (10.0%) it had made at this time in 2009, when it claimed second place. CS benefits from a table-topping $77m in ECM fees, good for a 14.2% share, which is up from fifth place ($47m) a year earlier. The bank sits in second place in the M&A revenue table, with $56m (10.0%). Citi, in second place for overall IB revenue with $130m (8.5%), jumps up from fifth ($104m) a year ago, while JPMorgan’s $128m (8.4%) sees it down to third this year from first ($170m) for the corresponding period of 2009. BTG Pactual makes a notable climb to fourth this year ($119m) from 10th ($50m) last year, mostly on the strength of $70m from the ECM platform. Santander has dropped to ninth ($75m) from third ($115m) a year ago, and Bradesco to 10th ($50m) from fourth ($114m). The total revenue pool is at $1.52bn, up from $1.42bn at this time in 2009. Overall EM IB revenue was $11.4bn through November 19, up 20% on full year 2009 and the highest total since 2007 YTD ($12.8bn), says Dealogic. EM now accounts for 20% of global IB revenue in 2010 YTD, the highest proportion on record, says the data tracker. “China clients account for 39.5% ($4.5bn) of emerging market IB revenue in 2010 YTD, followed by Brazil with 8.3% ($943m) and India with 7.6% ($877m),” says Dealogic. It adds that ECM was the biggest revenue generator. JPMorgan leads the EM IB revenue ranking with 5.3%, followed by Goldman Sachs and Morgan Stanley, both with 4.5%. IB includes M&A, ECM, DCM and loans.