Bank of America Exclusive: Boost in Trading Revenue Explained

Bank of America’s global markets unit saw an 8% increase in the third quarter, boosted by a renewed focus on its trading business.

While the growth is smaller than Citigroup’s 14% increase, it outperformed JPMorgan, which saw market fees decline by 3%.

Under the leadership of Jim DeMare, president of the global markets unit, Bank of America is aiming to secure a top-three position in most fixed income products.