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The strong year-over-year fee performance was led by a 15% improvement in investment in brokerage services, mostly in our global wealth management business. We are focused on driving market share in all our businesses, investing in technology to further enhance the customer experience, and continue to increase our efficiency.
billion or 12% driven by higher firmwide asset management and InvestmentBankingfees as well as lower net investment securities losses. Next, the Corporate & InvestmentBank on Page 5. InvestmentBanking revenue of $2 billion was up 27% year on year. NIR ex Markets was up $1.2
All of this was helped by the years of Bank of America's assiduous dedication to responsible growth. Adjusted full year revenue grew 5% on a back of 9% NII improvement and strong asset managementfees and sales and trading results. Outside of NII, we saw good growth in treasury service fees and wealth managementfees.
You hear about the investmentbanks that are running these IPOs, that it's their job to market and really try to create the biggest pool of money as you possibly can for the IPO. Just the assets under managementfees. Froglet or in business terms, operating leverage.
But you mentioned their equities trading, which was really strong, their investmentbankingfee growth, which was 29% year over year, which came from a very low bar, but now more companies are going public, more M&A activities happening, and the banks are a big beneficiary of that. trillion.
We also expanded Zelman's investmentbanking capabilities into the commercial market in 2023. And in the fourth quarter, the investmentbanking team closed three transactions, albeit all in the single-family sector, that boosted revenues and expanded the W&D brand significantly. Those are the challenges.
In banking, the momentum in investment-grade debt has spread into other DCM products. But the long-awaited rebound in investmentbanking has yet to materialize. And it was a disappointing quarter in terms of both the wallet and our own performance, with investmentbanking revenues down 24%.
So that was a while back, but nonetheless, I don’t know if it was love at first sight, but we got to get along pretty well, and after a few years working for investmentbanks, he then joined Goldman Sachs. I joined, effectively, Deutsche Bank. We decided to try to have a go on our own. We were 28, 30 respectively.
Limited partners are gravitating towards Independent Sponsors given their lower managementfees, and the flexibility that comes with co-investing on a deal by deal basis. The platform is used by over 2,000 boutique investmentbanks that don’t post/list their deals anywhere online. What changed all of a sudden?
We're leveraging technology and increasing our operational efficiencies. We will continue to leverage our technology to improve operational efficiency and productivity. So, there's definitely what we call risk management. So, there's some risk managementfees because just our legal costs are going up significantly.
I wanted to see the world, and whether it was investmentbanking, or basket weaving really had absolutely no bearing on my decision. And these were real bankruptcies, led by a supply-demand imbalance, too much leverage and not enough demand for the products. I wanted a job that would take me away from Paris. MIELLE: Yes.
Fees grew 6% year over year and represented 46% of total revenue in the quarter. Our strong fee performance was led by a 14% improvement in asset managementfees in our wealth management businesses. We grew investmentbankingfees 29% year over year and saw sales and trading revenue increase 7%.
Leverage buyouts requires leverage. And when rates were so low, the leverage went, it was cheap and, and and easily accessible. If you look at the m and a volumes at at most of the major investmentbanks, including at Raymond G’s volumes came down. But also it helped private equity do deals, right?
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