Goldman refutes rumours of fixed income/equities merger

A spokesperson for the bank in New York said that while there is an increasing level of co-operation between equities and fixed income, rumours of a merger between the two businesses were completely unfounded.

Goldman Sachs’ fixed income, currencies and commodities division (FICC) recently reported its best-ever quarterly performance. With net revenues of $1.3 billion in Q3, 2002 the bank was up 19% over third quarter 2001 (FX Week, September 30).

In contrast the equities division, in line