Goldman down, Bear Stearns up in Q1 forex
Goldman’s London-based global head of FX Geoff Grant told FX Week that increased volume and volatility in FX and commodities had helped the FICC division perform well, despite an unquantified FX downturn year-on-year. "Although net revenues for currencies were down slightly compared with an exceptionally strong Q1 last year, our underlying franchise remains strong," he said.
In common with the other US investment houses, Goldman Sachs does not give figures for FX trading. However, the wider FICC
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