A broad revival in investment banking is taking hold on Wall Street, fueled by a surge in IPOs, mergers and debt issuance. The biggest U.S. banks said this week that deal activity is strengthening across their investment banking businesses, suggesting the broad-based recovery that has eluded the industry for years is gaining momentum. Investment banking fees at the six largest U.S. banks surged 45% on average in the second quarter from a year earlier, with Morgan Stanley reporting the…
