Bloomberg

(Bloomberg) -- Credit Suisse Group AG, long the top equity-trading firm in Europe, had the biggest revenue decline among global firms in that business last quarter. The bank saw a 40 percent drop in its Asia stock-trading business and cited “lower trading volumes in Europe and weak performance in Latin America,” as UBS Group AG surpassed it for the first time in more than three years. European lenders on average fell more than their U.S. rivals, with JPMorgan Chase & Co. posting the smallest drop, according to Bloomberg Intelligence.

To contact the reporter on this story: Ambereen Choudhury in London at achoudhury@bloomberg.net. To contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Simone Meier

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