Goldman Sachs and Morgan Stanley reported bumper earnings for the final quarter of 2025, capping Wall Street’s best year for investment banking in four years.
Four of the five big US investment banks this week reported an increase in quarterly fees from advisory work, adding to bankers’ optimism that the Trump administration’s deregulatory agenda will deliver a boom for the industry.
Goldman chief executive David Solomon said the bank had its largest backlog of deals since the pandemic, as companies seek to capitalise on looser US regulations.
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