What drove the big jump in fee income for investment banks?

The surge in Q2 IPO activity has resulted in a significant increase in fee income for the industry as companies raise capital through public offerings. Fees paid to top-tier and mid-size firms have reached over seven-fold from the previous quarter, driven largely by 29 deals in J

• Option 1: Top-tier banks took a hit due to increased competition for IPO clients.0%
• Option 2: IPOs have become less lucrative for investment banks since their peak in 2019.0%