Goldman's Cohn defends bank's trading business amid revenue slump

May 31, 2016 6:59 PM

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Goldman's Cohn defends bank's trading business amid revenue slump

Goldman Sachs Group Inc (GS.N) President and COO Gary Cohn defended the bank's trading business on Tuesday, as investors have questioned the units' slumping revenue.

Cohn said there was little correlation between the average size of a bank's fixed income and equities trading revenue and the firm's overall return on equity, a key measure of how well it uses shareholder capital to earn profits.

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