(Bloomberg) — A blockbuster year for New York’s trading and investment banking firms is poised to deliver record profits for the industry, with profits expected to top $90 billion and bonuses expected to reach an all-time high.
Most read on Bloomberg
The annual profit estimate, based on growth in the first half of 2026, would comfortably surpass last year’s record $65.1 billion, according to a report from New York State Comptroller Thomas DiNapoli. His office measured profits from brokerage operations of member firms of the New York Stock Exchange.
The bumper crop is expected to result in a record set of bonuses in the new year for the industry’s financial professionals, barring significant economic disruption, DiNapoli said, without providing specific numbers.
Major Wall Street companies have already reported record revenues across their core businesses so far this year, helped by market volatility and returning confidence in deal-making. Goldman Sachs Group Inc., for its part, posted its third consecutive all-time quarterly record for stock trading across all banks.
For the New York securities industry, the first half was the strongest two-quarter period on record, driven by an increase in revenue from underwriting, which rose 68 percent, and from account supervision and advisory activities, which climbed 16.4 percent, according to DiNapoli’s report.
A good year for Wall Street translates into a boon for New York City and its job market. Employment in the industry reached 207,400 jobs in 2025, and the comptroller’s office expects an additional 5,300 jobs to be created this year.
It is also lucrative for the state coffers. The securities industry, through corporate and personal income taxes, added at least $26.3 billion to the New York State budget for the 2025-2026 fiscal year, an increase of nearly 29% from the previous year.
Risks from global conflict, inflation and artificial intelligence pose “increasing concerns” for the industry and the state, the comptroller’s office said.
“Given the growing contributions to the city and state tax bases, the potential for an industry downturn presents a growing risk to public finances and the regional economy as a whole,” according to the report.
Gn bussni
