When it comes to M&A advisory and investment banking, is their a new sheriff in town? It looks that way. Bloomberg notes that JPMorgan (JPM) has gotten the better of Goldman Sachs (GS) this year.

JPMorgan has raked in $1.26 billion in advisory fees in through September, beating out Goldman Sachs for the first time since 2000. JPMorgan also built on its lead in underwriting equity and debt offerings, earning $4 billion, which was nearly twice as much as Goldman Sachs. 

Somewhat lost amid the euphoria over Goldman Sachs' earnings--notably the strong FICC results--was the fact that its investment banking revenue fell 31 percent (38 percent sequentially). Advisory revenue was down nearly 50 percent. JPMorgan was able to eke out a small gain, 4 percent, in investment banking, though advisory business was also down 33 percent.     

For more:
- here's the Bloomberg article

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