Banks Without Trading Risk Had ‘Very Good’ Quarter, Brown Says
Banks that don’t lean on trading or investment banking for profits may report “very good” third- quarter earnings, dodging market turmoil, said Thomas Brown, chief executive officer of Second Curve Capital LLC.
“It’s the capital-markets banks, the ones that rely on trading, the ones that rely on investment-banking activities -- that’s where the weakness is,” Brown said in an interview today with Bloomberg Television’s Betty Liu and Dominic Chu. “There’s 7,300 other banks that are going to report a very good third quarter.”
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