Bank of America dealmakers continued a scorching quarter for Wall Street bankers, posting record M&A revenue and a 23% increase in investment banking fees.

The US bank followed rival JPMorgan with all-time high M&A fees as activity surged to over $4trn in deals in the first nine months of 2021. It pulled in $2.2bn in investment banking fees, narrowly missing an record set during the first three months of this year.