The answer is Lloyd C. Blankfein at the rival Wall Street firm Goldman Sachs, which on Tuesday reported a 40 percent year-on-year slump in revenue from trading bonds, currencies and commodities. The quarter to June was the second in a row in which Goldman, the $90 billion financial company, has been out-traded by its peers. And swings in markets can have a bigger impact on Goldman because it lacks a large commercial banking business. Over time, the firm’s exposure to volatile fixed-income trading will become more muted. View all New York Times newsletters.

Source: New York Times July 18, 2017 21:33 UTC