Chicago has emerged as a major global financial center and home to some of the largest investment banks in the US. The city provides access to major exchanges like CME Group and CBOE Global Markets. Some of the major chicago based investment banks are JPMorgan Chase, Goldman Sachs, Bank of America Merrill Lynch, Citigroup and Wells Fargo. These banks offer a full suite of financial services including investment banking, sales and trading, research, and wealth management. Their key strengths lie in leveraging Chicago’s position as a derivatives hub, middle market focus and strong investment research teams.
JPMorgan Chase – The largest US bank with dominant fixed income trading
JPMorgan Chase is the largest bank in the US with assets of over $3 trillion. The bank has leading equities and fixed income trading capabilities globally. In Chicago, JPMorgan has over 1,100 staff focused on fixed income trading and research. The bank has strengths in trading US Treasuries, mortgage-backed securities, corporate bonds and derivatives. JPMorgan has leveraged its scale and technology to buildout dominant fixed income and commodities trading platforms.
Goldman Sachs – Strong investment banking franchise
Goldman Sachs is a leading global investment bank known for advising large corporations and institutional investors. In Chicago, Goldman has an office with over 500 staff focused on industrial, consumer retail, healthcare and financial sponsors coverage. The bank works extensively with Chicago-based middle market PE firms and corporations. Goldman Sachs has a strong mergers & acquisitions advisory practice focused on midwest corporations.
Bank of America Merrill Lynch – Midwest corporations banking
Bank of America Merrill Lynch provides banking, trading, investment banking and asset management services globally. The bank has had a major presence in Chicago since acquiring Merrill Lynch during the financial crisis. The Chicago office has over 1,000 staff providing full investment banking services to midwest corporations and institutional investors. Bank of America Merrill Lynch has particular strengths in debt capital markets and leveraged finance origination.
Citi – Commodities trading powerhouse
Citi is a leading global bank that provides financial services to corporations, governments and institutions globally. In Chicago, Citi has over 800 staff focused on commodities trading, fixed income trading and investment banking. The bank has built a strong commodities trading business in energies, metals and agricultural products leveraging Chicago’s proximity to major commodities exchanges. Citi Chicago offers strategic advisory, debt and equity underwriting for midwest corporations.
Wells Fargo – Strong middle market investment banking
Wells Fargo is one of the largest banks in the US focused primarily on retail and commercial banking. The firm has been expanding its capital markets and investment banking capabilities in recent years. In Chicago, Wells Fargo has an investment banking office with around 60 bankers focused on advising middle market clients on M&A transactions and capital raising.
Chicago based investment banks like JPMorgan, Goldman Sachs, Bank of America Merrill Lynch, Citi and Wells Fargo have leveraged the city’s strategic location and capabilities to build strong franchises serving midwest corporations and institutional investors. Their key strengths lie in fixed income and commodities trading as well as middle market investment banking.