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BHC Security Income Hits $16.4 Billion

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Securities brokerage income for bank holding company totaled $16.4 billion at the end of second quarter 2009, up almost $7 billion or 74.5% from $9.4 billion in first half 2008.

Of that increase, $4.4 billion or 63.3% was contributed by 2 new BHCs, Morgan Stanley & Company Inc. and the Goldman Sachs Group Inc., both in New York, according to the Michael White Bank Securities Brokerage Income Report.


Bank of America Corporation, Charlotte, N.C., increased securities brokerage revenue by $3.3 billion, to more than $5 billion, largely due to its acquisition of Merrill Lynch.

If it were it not for the these 3 BHCs, the industry would have seen a decline of 8.2% in securities brokerage revenue, to $8.6 billion, according to Michael White Associates, Radnor, Pa.