Investment Banks Are Coming Off a Tough Year: Can They Rebound in 2023?

Investment Banks Are Coming Off a Tough Year: Can They Rebound in 2023?

It's been a tough year for investment banks like JPMorgan Chase (NYSE: JPM), Goldman Sachs (NYSE: GS), and Morgan Stanley (NYSE: MS). Goldman Sachs recently announced it would lay off 3,200 workers as its investment bank division slumped. Inflation, interest rates, and geopolitical uncertainty have all had a hand in creating an unfavorable environment for investment banks.