Coalition Greenwich, a prominent provider of competitive intelligence and analytics, publishes widely respected research on the investment banking industry. Their research, often referred to as “Coalition” data (though now under the Greenwich Associates banner), provides a granular and often proprietary view of market share, revenue trends, and competitive dynamics within specific investment banking product areas.
The value of Coalition investment banking research lies in its detailed breakdown of revenue pools across various product lines, including but not limited to: fixed income, currencies, and commodities (FICC), equity capital markets (ECM), mergers and acquisitions (M&A), and leveraged finance. Within each of these broad categories, Coalition further segments the market, offering insights into specific instruments and client segments.
A key aspect of their methodology is tracking the performance of the top global investment banks. These are typically referred to as the “Bulge Bracket” or “Tier 1” banks. By meticulously estimating revenue generated by each of these firms within each product category, Coalition develops a comprehensive market share ranking. This ranking is closely watched by industry participants and analysts, providing a benchmark for performance and a valuable tool for strategic planning.
The process for collecting and analyzing this data is rigorous and involves a combination of public information analysis, industry expert interviews, and proprietary data feeds. Coalition’s research is often subscription-based, making it a valuable (and often expensive) resource for banks, hedge funds, asset managers, and consulting firms. These organizations use the data to understand competitive positioning, identify growth opportunities, and benchmark their own performance against industry leaders.
Furthermore, Coalition research is often used to inform strategic decisions related to resource allocation, market entry, and talent management. For example, a bank looking to expand its M&A franchise might use Coalition data to identify areas of relative strength and weakness within the industry, informing their hiring strategy and geographic focus.
While the specific methodology and data sources remain proprietary, the insights derived from Coalition’s research are highly influential. They offer a valuable perspective on the ever-evolving landscape of investment banking, helping firms navigate competitive pressures and capitalize on emerging opportunities. The research is essential for understanding the performance of top players and identifying crucial trends shaping the future of the industry. However, it’s important to acknowledge that any market share estimations involve inherent uncertainties and should be considered alongside other sources of information.