Equity underwriting fees for the five largest U.S investment banks fell sharply to $1.26 billion in Q3 2017 from an average figure of $1.6 billion over the previous two quarters, as a notable reduction in global equity capital market activity weighed on revenues across the industry.
from Forbes Real Time https://www.forbes.com/sites/greatspeculations/2017/11/10/citigroups-global-presence-boosts-equity-underwriting-fees-despite-poor-industry-activity/
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