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Elisa Martinuzzi

Some Wall Street Bankers Are Doing Well From This Crisis

Many Wall Street traders had their best first quarter in years amid the market meltdown, but the coming months might not be so profitable. 

Active markets.

Active markets.

Photographer: Spencer Platt/Getty Images North America
Updated on

In a crisis, there are always winners. Some banks have been doing pretty well out of the latest one.

As the world economy slowed to a near standstill in the fight against the coronavirus pandemic, leaving millions unemployed and companies depending on cash lifelines, one corner of global finance thrived: securities trading. From JPMorgan Chase & Co. to Citigroup Inc., Wall Street firms had their best quarter in years buying and selling stocks and bonds. The feast probably won’t last.