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It has just beefed up its trading division in Britain.
But Vanguard says costs in its trading division are rising.
But Morgan Stanley, which is rebuilding its trading division, struggled more than others.
Its fixed-income trading division still reported a 9 percent decline from the firm's second quarter.
Profit in the trading division jumped 43 percent to $10.25 billion in the quarter.
He will now report to Mr. Havens as the head of Citigroup's sales and trading division.
Analysts at Bernstein said investors had misunderstood the marketing unit – the trading division.
Enron's renown was built on its sprawling natural gas and power trading division.
She said uncertainty caused by Moody's review had cost the bank's bond trading division $225m.
The trading division buys and sells agricultural commodities, fertilizer and energy.
Goldman's trading division suffered, with fixed-income, currency and commodity revenue falling 36%.
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