US Investment Banks Cite FX As Bright Spot In 1997 Results

NON-BANKS

Foreign exchange proved a bright spot for US investment banks during 1997, say market observers, on the back of trending markets throughout the year and a particularly volatile second half in the Asian currency markets. Although the investment banks do not release separate FX figures in their results, market sources suggest that this sector of the market had a strong year and is now poised to come out of the gates strong in 1998.

Goldman Sachs does not release its earnings publicly, but Peter