Financial services companies are the kings of corporate America, accounting for some 22 percent of the value of the Standard & Poor’s 500 index, the benchmark’s single biggest sector by far, according to S&P. They are also active deal makers, as the current wave of finance industry consolidation illustrates. The measure of an investment bank’s strength in no small part begins with its standing among financial services clients. Unsurprisingly, Goldman, Sachs & Co. dominates the sector as it does the rest of the market, reaping some $196 billion in advisory fees from finance companies during the 12 months ended May 9, according to research firm Dealogic. That’s 64 percent more than its nearest competitor, Merrill Lynch & Co., which rises from ninth place in the previous 12-month period. Among the other big players: Morgan Stanley moves up from fifth to third place, while tiny boutique Sandler O’Neill + Partners takes fourth place, up from seventh the previous year and ahead of such big firms as Citigroup and JPMorgan Chase & Co.
