Goldman Sachs Q4 Earnings: 30% Drop In Investment Banking Fees

Goldman Sachs, a prominent Wall Street bank, saw a significant decline in its investment banking fees, particularly within its M&A team, with a 30% drop.

The bank’s dealmaking revenue for the previous year was $6.2 billion, marking a 16% decrease compared to the already challenging year before.

Among its US competitors, Goldman Sachs experienced the largest decline in fees. Bank of America’s fees fell by 2% in 2023, while JPMorgan and Citigroup were both down 4% and 11%, respectively.