Growth rates of U.S. banks & wirehouses 2019 vs 2020

Between the second quarter of 2019 and the second quarter of 2020, average deposits of the largest banks and wirehouses in the United States grew by 20.9 percent. Meanwhile, their revenues were down 3.4 percent. Wirehouses are full-service broker-dealers. In 2019, LPL Financial was the largest independent broker-dealer in the country.

Year-over-year growth rates of large private banks and wirehouses in the United States from Q2 2019 to Q2 2020, by selected performance indicators

Characteristic	Growth rate
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Release date

July 2020

More information

Region

United States

Survey time period

Q2 2019 and Q2 2020

Supplementary notes

The 14 largest private banks and wirehouses in the US that were analyzed:
1. Bank of America
2. BNY Mellon
3. Boston Private Bank
4. Fifth Third
5. First Republic Bank
6. Goldman Sachs
7. JPMorgan Chase
8. Morgan Stanley
9. Northern Trust
10. PNC
11. RBC
12. Regions
13. US Bank
14. Wells Fargo

The source adds the following information: "where possible and unless noted, data are for wealth management businesses only. Some public domain data, however, are commingled with other business lines such as brokerage or asset management. Goldman Sachs was removed from this quarter's analysis due to its unique revenue performance."

*Revenues include both net interest and noninterest revenues.