:+12126867400f:+12126862626e:usinfo@datamonitor.comDatamonitorEuropeCharlesHouse108-110FinchleyRoadLondonNW35JJUnitedKingdomt:+442076757000f:+442076757500e:eurinfo@datamonitor.comDatamonitorGermanyKastor&PolluxPlatzderEinheit160327FrankfurtDeutschlandt:+496997544517f:+496997544900e:deinfo@datamonitor.comDatamonitorAsiaPacificRoom2413-18,24/FShuiOnCentre6-8HarbourRoadHongKongt:+85225201177f:+85225201165e:hkinfo@datamonitor.comGlobalInvestmentBanking&BrokerageIndustryProfileReferenceCode:0199-2308Publicationdate:May2005ABOUTDATAMONITORAllRightsReserved.Nopartofthispublicationmaybereproduced,storedinaretrievalsystemortransmittedinanyformbyanymeans,electronic,mechanical,photocopying,recordingorotherwise,withoutthepriorpermissionofthepublisher,Datamonitorplc.Thefactsofthisreportarebelievedtobecorrectatthetimeofpublicationbutcannotbeguaranteed.Pleasenotethatthefindings,conclusionsandrecommendationsthatDatamonitordeliverswillbebasedoninformationgatheredingoodfaithfrombothprimaryandsecondarysources,whoseaccuracywearenotalwaysinapositiontoguarantee.AssuchDatamonitorcanacceptnoliabilitywhateverforactionstakenbasedonanyinformationthatmaysubsequentlyprovetobeincorrect.Global-InvestmentBanking&Brokerage©Datamonitor(PublishedMay2005)Page2ABOUTDATAMONITORDatamonitorisaleadingbusinessinformationcompanyspecializinginindustryanalysis.Throughitsproprietarydatabasesandwealthofexpertise,Datamonitorprovidesclientswithunbiasedexpertanalysisandindepthforecastsforsixindustrysectors:Healthcare,Technology,Automotive,Energy,ConsumerMarkets,andFinancialServices.ThecompanyalsoadvisesclientsontheimpactthatnewtechnologyandeCommercewillhaveontheirbusinesses.DatamonitormaintainsitsheadquartersinLondon,andregionalofficesinNewYork,Frankfurt,andHongKong.Thecompanyservestheworld’slargest5000companies.Datamonitor'spremiumreportsarebasedonprimaryresearchwithindustrypanelsandconsumers.Wegatherinformationonmarketsegmentation,marketgrowthandpricing,competitorsandproducts.Ourexpertstheninterpretthisdatatoproducedetailedforecastsandactionablerecommendations,helpingyoucreatenewbusinessopportunitiesandideas.Ourseriesofcompany,industryandcountryprofilescomplementsourpremiumproducts,providingtop-levelinformationon10,000companies,2,500industriesand50countries.Whiletheydonotcontainthehighlydetailedbreakdownsfoundinpremiumreports,profilesgiveyouthemostimportantqualitativeandquantitativesummaryinformationyouneed-includingpredictionsandforecasts.EXECUTIVESUMMARYGlobal-InvestmentBanking&Brokerage©Datamonitor(PublishedMay2005)Page3EXECUTIVESUMMARYMarketValueTheglobalinvestmentbankingandbrokeragesectorgrewby15.9%in2004toreachavalueof$47.2billion.MarketValueForecastIn2009,theglobalinvestmentbankingandbrokeragesectorisforecasttohaveavalueof$78.4billion,anincreaseof66.1%since2004.MarketSegmentationITheleadingrevenuesourceintheinvestmentbankingandbrokeragesectoristheM&Asegment,whichaccountsfor35.7%oftheglobalvalue.MarketSegmentationIIIntermsofvalue,theAmericasaccountsfor55.2%oftheglobalinvestmentbankingandbrokeragesector.MarketShareTheleadingplayerintheglobalinvestmentbankingandbrokeragesectorisJPMorgan,whichaccountsfor7.7%ofthesectorvalue.CONTENTSGlobal-InvestmentBanking&Brokerage©Datamonitor(PublishedMay2005)Page4TABLEOFCONTENTSEXECUTIVESUMMARY3CHAPTER1MarketOverview71.1MarketDefinition71.2ResearchHighlights71.3MarketAnalysis8CHAPTER2MarketValue10CHAPTER3MarketSegmentationI11CHAPTER4MarketSegmentationII12CHAPTER5MarketShare13CHAPTER6CompetitiveLandscape14CHAPTER7LeadingCompanies167.1JPMorganChase&Co167.2GoldmanSachsGroup167.3MorganStanley167.4UBSAG177.5MerrillLynch&Co.,Inc.17CHAPTER8MarketForecasts188.1MarketValueForecast18CONTENTSGlobal-InvestmentBanking&Brokerage©Datamonitor(PublishedMay2005)Page5CHAPTER9FurtherReading199.1Sources199.2RelatedDatamonitorResearch19CONTENTSGlobal-InvestmentBanking&Brokerage©Datamonitor(PublishedMay2005)Page6LISTOFTABLESTable1:GlobalInvestmentBanking&BrokerageSectorValue:$billion,2000-2004...10Table2:GlobalInvestmentBanking&BrokerageSectorSegmentationI:%Share,byValue,2004........................................................................................................11Table3:GlobalInvestmentBanking&BrokerageSectorSegmentationII:%Share,byValue,2004........................................................................................................12Table4:GlobalInvestmentBanking&BrokerageSectorShare:%Share,byValue,2004...........................................................................................................................13Table5:GlobalInvestmentBanking&BrokerageSectorValueForecast:$billion,2004-2009...................................................................................................................18MARKETOVERVIEWGlobal-InvestmentBanking&Brokerage©Datamonitor(PublishedMay2005)Page7CHAPTER1MARKETOVERVIEW1.1MarketDefinitionDatamonitor'sinvestmentbankingandbrokerageindustryprofilecoversfinancialinstitutionsengagedininvestm