“Investment Banking pipelines remain healthy across sectors and regions. And activity is expected to continue on the back of current momentum.”

In context

“sing 67% from the prior year. Exceptional performance in advisory and continued strength in underwriting drove the quarter's results. The Americas and Europe led the year-over-year increase. Advisory revenues were a record $1.3 billion reflecting increased completed M&A activity versus the prior year. Results were supported by greater sector diversification compared to last year. Equity underwriting revenues were $1 billion, marking the fourth consecutive quarter at/or above this level. The increase from the prior year was driven by strength across products. Fixed income underwriting revenues were $567 million. The year-over-year increase was driven by strength in non-investment grade loans supported by the combination of the rate environment, and elevated levels of event-driven activity. Investment Banking pipelines remain healthy across sectors and regions. And activity is expected to continue on the back of current momentum. Financial sponsors are deploying capital and corporate clients are looking for strategic opportunities as a source for growth. Equity revenues were very strong, increasing 24% from the prior year to $2.9 billion. Our equities business remains a global leader. Results benefited from sustained client activities throughout the quarter. Revenues in Asia were particularly strong, underscoring the importance of our diversified global footprint. Cash and derivative revenues were both higher versus the prior year. Broad-based client engagement continued through the summer months. Prime brokerage revenues increased versus last year on higher equity market levels. Fixed Income revenues declined from the strong prior year to $1.6 billion. Still, the business delivered a solid third quarter. Micro re”