Frank Newman Bankers Quotations

This quarter's disappointing net loss occurred during one of the most severe global market dislocations in the post-World War II period, ... Equity markets declined, risk premiums in debt markets widened, and investment banking activity slowed markedly. Bankers Trust sustained significant losses in emerging market debt, high-yield debt and in our equity holdings.

Bankers Trust generated broad-based improvement in both revenue and profitability in the first quarter. Bankers Trust nearly doubled investment banking profit from a year ago.