Goldman Sachs Group Inc. (NYSE: GS) won the biggest share of the $923 million in fees from U.S. initial public offerings this year, according to Bloomberg.
In addition, Citigroup Inc. (NYSE: C) fell out of the top five after its revenue dropped more than 50 percent.
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Goldman Sachs made $191.6 million as it assisted 16 companies, including Hyatt Hotels Corp. (NYSE: H) to Cobalt International Energy Inc. (NYSE: CIE), to public this year, an increase of more than 60 percent from 2008.
Citigroup saw its fees dropped to $68.3 million, making the lender the only underwriter that participated in at least $1 billion worth of sales to suffer a decline in revenue.
Several of their rivals fared well this past year. Morgan Stanley (NYSE: MS) more than quadrupled the amount it made from underwriting IPOs to $156.1 million, the biggest increase from 2008 for a bank that took part in at least $1 billion in deals.
JPMorgan Chase & Co. (NYSE: JPM), the second-largest U.S. bank, made $105.4 million charging the industry’s highest fees.
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