Chicago has long been a major US financial center, home to the Chicago Stock Exchange as well as the headquarters of major investment banks and financial institutions. Understanding the key investment banks in Chicago provides insights into the Windy City’s finance industry. This article will highlight the top investment banks in Chicago across businesses like investment banking, sales & trading, research, and more.
JPMorgan Chase leads in Chicago investment banking league tables
JPMorgan Chase has a major presence in Chicago, covering investment banking, markets, private banking and asset management. It has consistently ranked #1 in Chicago investment banking fee league tables. In 2021, it pulled in over $280 million in fees across M&A, equity capital markets and debt capital markets deals. Key sectors include industrials, consumer & retail, healthcare and financial institutions.
BAML’s Chicago team advises on big Midwest deals
Bank of America Merrill Lynch (BAML) has its headquarters in Charlotte but a sizable presence in Chicago. Its Chicago investment bankers focus on the Midwest region and have advised on major M&A deals like Kraft Heinz, Conagra’s acquisition of Pinnacle Foods, etc. BAML Chicago also has an active financing and capital markets practice.
Goldman Sachs Chicago known for wealth management
Goldman Sachs has an office in Chicago serving clients across wealth management, investment banking, securities and investment management. While not known for investment banking, its private wealth management business is significant – it manages over $60 billion in assets for ultra high net worth individuals in Chicago.
Boutiques like William Blair thrive in Chicago
In addition to bulge bracket banks, Chicago also houses boutique investment banks like William Blair, which was founded in the city in 1935. William Blair focuses on asset management, wealth management and investment banking, especially healthcare, fintech and tech. It’s known for advising middle-market companies on M&A deals.
Chicago is home to major national investment banks like JPMorgan and BAML as well as boutiques like William Blair. Its strategic Midwest location and history as a trading hub contribute to its thriving finance ecosystem.