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Bulge bracket banks are the world's largest global investment banks,[2] serving mostly large corporations, institutional investors and governments. The term "Bulge Bracket" comes from the way investment banks are listed on the "tombstone", or public notification of a financial transaction,[3] where the largest advisors on investment banking operations (mergers, acquisitions, IPOs, or debt issuance) are listed first. The term is primarily related to the financial advisory side of the business, as opposed to sales and trading.
- ^ "Top 8 Cities by GDP: China vs. The U.S." Business Insider, Inc. Retrieved May 21, 2018.
For instance, Shanghai, the largest Chinese city with the highest economic production, and a fast-growing global financial hub, is far from matching or surpassing New York, the largest city in the U.S. and the economic and financial super center of the world.
[better source needed] - ^ "Bulge bracket - Definition of bulge bracket at YourDictionary.com". Archived from the original on February 3, 2009. Retrieved March 6, 2009.
- ^ Staff, Investopedia (November 25, 2003). "Bulge Bracket". Investopedia. Retrieved February 5, 2017.