Bank strategy and results
A sudden injection of volatility last week provided trading desks with a shot of adrenaline, just as investors began to fret that a weak second quarter would derail a recovery in trading seen in the aftermath of Donald Trump’s election.
Japan’s three biggest banks last week reported sluggish results for the year to the end of March as the Bank of Japan’s negative interest-rate policy continued to hamper their performances.
Natixis led a batch of second-tier European investment banks showing the benefits of reshaping and a narrower focus as it reported a 26% jump in revenues year-on-year at its corporate and investment bank last quarter.
JP Morgan is looking to add to its Asian headcount in cash equities even as many competitors scale back in the region, Ryan Holsheimer, head of cash equity sales and trading for Asia-Pacific, told IFR.