Fixed income helps JP Morgan move on from Whalegate

The US bank opened the third-quarter reporting season for Wall Street's biggest firms with its first results since reorganising its business and implementing a raft of senior management changes over the summer

A strong third-quarter performance in fixed income trading – which led to a 33% jump in underlying revenues compared to a year ago – has helped JP Morgan move on from what has been a tumultuous period for the US bank.

JP Morgan also said in its third quarter results, which were published today, that its Chief Investment Office had "effectively closed out" positions held from its infamous "London Whale" trade, which came to light in May.

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