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However, trading in bonds and other products brought in 11 percent less revenue of 1.9 billion euros during the quarter as a result of the turmoil on fixed-income markets due to indications from the U.S. Federal Reserve that it could begin scaling back its bond purchases. Co-CEOs Anshu Jain and Juergen Fitschen said in a statement that the "core business performed well" and that the "franchise remained strong" during the period. Jain and Fitschen, who took over last year, have struggled to move the bank past lawsuits and legal issues that date back for years in some cases. They have stressed the need for the bank to change its culture and, as Jain put it, "restore the bond of trust with society."
[Associated
Press;
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