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"We are worried about operational performance, in particular the ongoing investment banking underperformance," a team of analysts at J. P. Morgan Cazenove wrote in a note to clients.
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Mr. Lewis said his team was assessing the investment bank's severe underperformance.
A spokesman told the Observer the move was "not driven by the need to realise cash because of the issues at the bank or the underperformance of any other parts of the business" and that proceeds would go to the group, which is owned by its 7.2 million members.
Mr Winters of JPMorgan Chase recalls how executives at the bank worried about its underperformance in fixed-income markets.
"We warm up to certain UK banks after recent substantial underperformance," said Dresdner, which upgraded its recommendations on Royal Bank of Scotland, up 6.25p to 241.25p, and Barclays, which rose 11.50p to 340.75p.
And the relative underperformance of the bank's traders of late may just be a blip in their otherwise enviable record.
The bank said: Following 16% relative underperformance year to date, we raise our recommendation on Reed Elsevier shares to outperform (from underperform).
The bank said: We believe the recent relative underperformance could be a good entry point ahead of full year results on 27 February.
One might argue that a steadfast commitment to a 2% inflation target demands some overshooting to make up for this long period of underperformance; after all, a central bank that tolerates undershooting of its target but not overshooting is missing its target on average.Fourth, it's not clear that the Fed has entirely ruled out something of that nature.
The bank said: "We are upgrading Marstons following recent underperformance.
REUTERS Siemens Said to Withdraw Deposits From SocGen | Siemens has withdrawn money from Société Général — but because of fund underperformance, not fears over the French bank's health, according to Reuters.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com