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Goldman Sachs traders have notched more $100 million-revenue days than any quarter since 2011

May 2, 2022, 22:35 IST
Business Insider
Goldman Sachs CEO David Solomon has made no bones of his desire to get staffers back to the office.Michael Kovac / Getty Images
  • Goldman Sachs' traders notched 32 separate $100 million-revenue days in the first quarter, according to a new regulatory filing.
  • That means they hit that daily milestone every other trading day for three months, the bank's best stretch since 2011.
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Goldman Sachs' traders recorded 32 separate $100 million-revenue days during the first quarter of this year, the bank said Monday in a regulatory filing.

That's good for about half the total trading days in the three months up to March — Goldman's best run since 2011, Bloomberg data shows.

It also means Goldman Sachs notched as many $100 million-trading days in the first quarter as it did in the three years leading up to the pandemic, Bloomberg noted.

Up until the pandemic, various regulatory clamps and institutional efforts to automate trading had threatened to diminish outsized trading returns.

But the surge in market volatility from the Russia's war on Ukraine and more hawkish central banks has allowed top banks to capitalize. In particular, traders have been able to rake in gains from commodity markets and currencies.

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Last month, Goldman Sachs reported $7.9 billion of trading revenue in the first quarter, up 4% from a year ago and nearly double from the fourth quarter.

Fixed income, currencies and commodities trading climbed 21% from a year ago, while stock trading fell 15%.

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