Six banks are leading the Alibaba IPO – Credit Suisse, Deutsche Bank, Goldman Sachs, J.P. Morgan, Morgan Stanley and Citigroup. Rothschild is an independent adviser. As a group, the 35 banks working on the deal will split a base pool of 1% of the proceeds, as much as $250 million, plus potentially 0.2 percentage points more in incentive fees, as much as $50 million. The top five banks on the deal will share a baseline 15%, or at least $163.5 million. Citigroup will receive 7.5% of the fee pool or at least $16.35 million.