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The Swiss bank posted the biggest quarterly profit on record thanks to an accounting gain related to its acquisition of Credit Suisse, but weak performance at its former rival hints at a long road back to growth
Imminent half year results will reveal whether the new Swiss bank is a hastily patched monster or a new financial powerhouse
Banks are determined to stick to their growth plans as they see cause for optimism in investment banking thanks to increasing confidence and a growing pipeline of deals
Wall Street is urging the Fed to be cautious despite the regulator hinting higher capital requirements are coming
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JP Morgan and Citigroup gave earnings season a rocky start on Thursday, with fixed income revenues at both firms well down on last year, as record low volatility levels bite deeper into trading activity. But investment banking remained largely resilient, and Citi’s ECM numbers surged. -
Jefferies' dreary third quarter trading results were buoyed by a record performance in its capital markets division.
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Goldman Sachs laid out plans to turn around its FICC division, following two quarters in which the business underperformed its peers. The bank also laid out its plans to boost revenues across the bank in unprecedented detail, explaining to the market how it would add $5bn to revenues in three years.
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Capital markets divisions had the best revenue performance across investment banks in the first half of the year, according to analyst firm Coalition.
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Third quarter profits in Royal Bank of Canada’s capital markets business fell by 4% on Wednesday, a C$24m drop that the bank attributed to benign market conditions and low volatility.
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When the mighty fall, or at least stumble, everyone enjoys putting the boot in. So it is with Goldman Sachs, when the bank reported a second straight quarter of underperforming its peers in the FICC business.
