ABN Amro has posted a third quarter profit gain of 26% to $1.34bn. Included in these figures, though, was a one-off profit gain of $270m the Dutch Bank made when selling its stake in Bank of Asia Pcl.
Equities, corporate finance and private equity appear to have been having a better time of it, relatively speaking, of late and the asset management business is said to have put in 'a solid performance' in the quarter.
Barclays Capital boss Bob Diamond has said that his firm will continue to build on the firm foundations it has in Asia in the coming years. Diamond told The Financial Times that 'we have been growing these businesses over the past five or six years 15-20%.....There is no reason to expect that to slow down....' The firm is thought likely to be adding to its talent pool in India, Japan and South Korea. China is also said to be on the longer-term menu.
DrKW is the latest firm to suffer at the hands of the hedge fund industry. Jorge Villon, DrKW's global head of FX, is leaving the firm 'to explore other opportunities in the hedge fund space'. Ex-AIG and Merrill Lyncher Harry Culham is to join the German firm to take on Villon's role.
And finally, UK money broker ICAP has said that its trading system currently handles around 60% of transactions in the US Treasury bond market. The firm said that it processed trades worth $9,000bn in the third quarter.