Introduction
When you think of a bank, you might think of a place that accepts deposits and maintains checking and savings accounts, and that’s true, but there is another type of bank that focuses on stocks, bonds, and investment products. These financial firms can be part of larger companies that also offer commercial banking services, but they occupy an important place in the financial system that affects the entire economy.
Best Investment Bank: Goldman Sachs
Goldman Sachs is perhaps the most prestigious investment bank. It is a public company that is over 150 years old, and it had nearly $2.5 trillion in assets under supervision at the end of 2021. Many high-ranking government officials have spent time at Goldman Sachs, including U.S. Treasury secretaries, White House advisors, and leaders in central banks and governments around the world. This makes it a major player on Wall Street.
Best Bank from a Large Institution: JPMorgan Chase
JPMorgan Chase is one of the largest financial institutions in the world. This massive company is primarily composed of two divisions. The Chase side of the company is a commercial and business bank. The JPMorgan brand focuses more on investments, including investment banking. The company reported having $3.7 trillion in total assets at the end of 2021.
Best Bank in Europe: Barclays
Barclays may not be the biggest name on this side of the pond, but in the United Kingdom, everyone knows Barclays. Headquartered in London, Barclays was founded in 1690 and has £1.4 trillion in assets (approximately $1.9 trillion). Consumers in the United States may be familiar with Barclays credit cards, and its commercial banking service was also developed for the U.S. It has a significant presence in New York and other global financial centers, both within Europe and beyond.
Best Bank for Transformation: Morgan Stanley
With roots dating back to 1935, Morgan Stanley is another major investment bank in the United States. With $6.5 trillion in assets under management, it falls into the “too big to fail” category in banking. The current Morgan Stanley came about from a merger in 1997 to create Morgan Stanley Dean Witter Discover & Co. The name reverted back to Morgan Stanley simply in 2001.
Best Innovative Bank: Bank of America Merrill Lynch
This investment bank is a subsidiary of Bank of America and has come about through a long series of mergers, the latest of which was Bank of America acquiring the large investment bank Merrill Lynch during the 2008 crisis. It operates worldwide with major centers in Hong Kong, London, and New York. Bank of America is the second-largest bank in the United States by assets at $3.1 trillion.
Best Bank to Weather a Recession: Credit Suisse
Investors worldwide often turn to Swiss currency as a safe haven when the U.S. dollar appears unstable. Swiss banks also benefit from
Source: https://www.thebalancemoney.com/best-investment-banks-4177807
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