Goldman Sachs' first quarter profits fell 13% from the same period last year to $768m (€849.31m), despite record asset management, securities and trading revenues.
The drop in earnings reflects the global slowdown of corporate activity, particularly in the primary equities markets. Henry Paulson, Goldman's chairman and chief executive officer, said: "While the firm produced record revenues in a number of key businesses, there is no question that current economic and market activity have slowed considerably."
