Goldman has cut bond trading staff by 10 percent since 2010: COO

NEW YORK Wed May 28, 2014 8:57am EDT

Gary Cohn, president and COO of Goldman Sachs, speaks during news conference after a meeting with Brazil's President Dilma Rousseff in Brasilia April 9, 2014. REUTERS/Ueslei Marcelino

Gary Cohn, president and COO of Goldman Sachs, speaks during news conference after a meeting with Brazil's President Dilma Rousseff in Brasilia April 9, 2014.

Credit: Reuters/Ueslei Marcelino

NEW YORK (Reuters) - Goldman Sachs Group Inc has cut fixed-income trading staff by 10 percent since 2010 to reduce costs, President and Chief Operating Officer Gary Cohn said on Wednesday.

Cohn echoed recent comments from executives at other banks that markets remain weak this quarter, with low volatility and declining trading volumes.

(Reporting by Lauren Tara LaCapra, Editing by Franklin Paul)