Bond trading is back - maybe. Across the five largest US investment banks, fixed income trading is again looking like it will shake off a multi-year slump, although there have been false dawns before.
Goldman Sachs named David Solomon its new chief executive officer effective October 1 after accelerating the departure of long time CEO Lloyd Blankfein. Solomon will grab Blankfein’s other title, chairman of the board, on January 1, 2019.
Bank of America Merrill Lynch saw revenue from investment banking slump 9% in the second quarter pulled down by a weak showing in M&A advisory and a slide in debt underwriting fees.