Remove 2008 Remove IPO Remove Underwriting
article thumbnail

How do Banks Make Money? Explanation, Examples

Peak Frameworks

Morgan, which offer services in underwriting and M&A advisory. When Facebook went public in 2012, it needed an investment bank to handle the Initial Public Offering (IPO). Goldman Sachs was one of the lead underwriters and earned considerable fees and reputation points for facilitating one of the largest tech IPOs ever.

Bank 52
article thumbnail

Bulge Bracket Banks: 2024 Edition

Mergers and Inquisitions

The name “bulge bracket” (BB) comes from the prospectus for an IPO or debt issuance, which lists all the banks underwriting the deal. For example, Lehman Brothers and Bear Stearns were considered bulge bracket banks before the 2008 financial crisis – but many people today don’t even remember them.