NEW YORK Oct 23 Goldman Sachs Group Inc
is working to bolster performance in fixed-income trading after
a weak third quarter, and is looking for experienced salespeople
and traders to improve the business, President and Chief
Operating Officer Gary Cohn said in a Bloomberg Television
interview on Wednesday.
"We don't know precisely why we had a tough quarter, but the
results are in, and I can tell you we had a tough quarter in
fixed-income," Cohn said. "We're very committed. We're going to
redouble or triple our efforts in fixed-income."
Goldman said last week that revenue from fixed-income,
currency and commodities trading dropped 47 percent to $1.29
billion, the lowest quarterly figure since the financial crisis.
Its revenue fell more than revenue of Wall Street rivals Morgan
Stanley, JPMorgan Chase & Co, Bank of America
Corp and Citigroup Inc.
While Cohn said Goldman is open to hiring "seasoned"
professionals with strong client relationships, he added that
bonuses may be down across Wall Street this year if revenue does
not improve in the fourth quarter.
"If we don't have a good fourth quarter, bonuses will be