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Goldman Sachs licks wounds in equities trading as peers grab share


By Olivia Oran(Reuters) - Goldman Sachs Group Inc on Tuesday became the first Wall Street bank this earnings season to report lower equities trading revenue, signalling it was unlikely to reclaim the top market share ranking from Morgan Stanley any time soon.People familiar with the business said a combination of outdated trading technology, a late effort to court quantitative funds and overall fee pressure on the bank's key clients has blunted Goldman's edge. It now ranks No. 2 behind its biggest rival.Last year, the once-dominant bank fell more than $1 billion behind Morgan Stanley in ...

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First Published: Wed, April 19 2017. 02:45 IST