Goldman Sachs and JP Morgan both performed strongly in 2012 but how did the two businesses compare both at the macro level and at the individual business unit level?
GS: Net Income = $2.89bn (just under 3 bn)
JP: Net Income = $5.7bn (just under 6 bn)
GS: Net Revenues = $9.24bn
JP: Net Revenues = $24.4bn
GS seems to have been performing decently in rates and credit, but weaker in commodities and currencies in 2012.
Morgan Stanley did pretty badly in Q4. Net revenues were $7bn but income from continuing operations was only $573m. The Institutional Securities Division lost $1.7bn overall -through compensation expense of $6.7bn (lowered from last year) and non-compensation expenses of $5.6bn (up from last year, due to litigation expense, relating to some confusion over loans made to New Century Financial).
GS: Net Income = $2.89bn (just under 3 bn)
JP: Net Income = $5.7bn (just under 6 bn)
GS: Net Revenues = $9.24bn
JP: Net Revenues = $24.4bn
GS seems to have been performing decently in rates and credit, but weaker in commodities and currencies in 2012.
Morgan Stanley did pretty badly in Q4. Net revenues were $7bn but income from continuing operations was only $573m. The Institutional Securities Division lost $1.7bn overall -through compensation expense of $6.7bn (lowered from last year) and non-compensation expenses of $5.6bn (up from last year, due to litigation expense, relating to some confusion over loans made to New Century Financial).
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