Key Takeaways Morgan Stanley's IB revenues rose 36% last year, aided by robust deal-making activities.Jefferies' IB fees jumped 51.6% in fiscal 2024, supported by mid-market advisory and capital markets.Analysts expect JEF's 2026 earnings to surge 70.8% versus steadier growth forecasts for Morgan Stanley.Investment banking (IB) is at the center of global capital flows, from multibillion-dollar mergers and acquisitions (M&A) transactions to high-profile IPOs. Among the sector’s key players, Morgan Stanley (M ...