LONDON, Nov 14 (Reuters) - U.S. investment banks JPMorganChase & Co and Citi saw their share of investmentbanking revenue increase more than any of their peers in thefirst nine months of the year, new research showed on Thursday.
Among the 13 investment banks tracked by research firmTricumen, JP Morgan and Citi each saw their share of operatingrevenue rise 0.7 percentage points over the period.
Tricumen partner Darko Kapor said JPMorgan's performancestemmed from continued strength in equity and debt capitalmarkets, which are among its biggest businesses, as well as astrong third quarter in interest rates, foreign exchange, creditand equity derivatives trading, where it outpaced most peers.
Year-to-date, JPMorgan earned the most from capital markets,making operating revenue of $19.5 billion, ahead of GoldmanSachs and Citi, which made $17.9 billion and $15 billionrespectively, a Tricumen ranking showed.
The report will be welcome news to JPMorgan, which lastmonth posted its first quarterly loss under Chief ExecutiveJamie Dimon, and faces over a dozen legal probes globally.
Tricumen said Citi's gains stemmed from the resilience ofits fixed income, currency and commodities (FICC) tradingrevenues, an area where many of its competitors saw revenuesbattered in the third quarter.
Britain-based Tricumen tracks data from Bank of AmericaMerrill Lynch, Barclays, BNP Paribas,Citi, Credit Suisse, Deutsche Bank, GoldmanSachs, HSBC, JP Morgan, Morgan Stanley, RoyalBank of Scotland, Societe Generale and UBS.
French bank Societe Generale also saw its share of revenueincrease by 0.7 percentage points, though it remains a muchsmaller player than its peers.
Kapor said SocGen has been increasing its revenue sharethroughout the year through its activities in debt capitalmarkets, where it seems to have found a way to increase or atleast maintain margin.
Goldman Sachs was among the biggest losers, seeing its shareof revenue drop by 0.7 percentage points after a tough thirdquarter, according to Tricumen.
Revenue from FICC trading for clients, one of Goldman'sbiggest businesses, tumbled 47 percent in the quarter, Goldmanreported in October.
Switzerland's UBS, however, was the worst performer. Itsshare of revenue slipped 1.1 percentage points due its pull backfrom FICC.
Separately on Thursday, research by analytics firm Coalitionforecast revenue at the top 10 global investment banks todecline by 5 percent to $151.7 billion in 2013 due to weakreturns from FICC activities.
FICC revenues are expected to fall 20 percent year-on-yearto $73.6 billion after a decline in institutional clientactivity, the absence of another European Central Bank long-termrefinancing operation (LTRO) and bankers holding off trading inanticipation of interest rates rises, Coalition said.
Equities, however, are forecast to deliver their best returnsince 2010, with revenues up 22 percent year-on-year at $40.9billion, while investment banking will see revenues rise 10percent to $37.2 billion, Coalition's report showed.
Coalition includes data from Bank of America Merrill Lynch,Barclays, BNP Paribas, Citi, Credit Suisse, Deutsche Bank,Goldman Sachs, JP Morgan, Morgan Stanley and UBS.