Frank Newman 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.

Our primary competition is still domestic banks. But we are certainly aware there is going to be competition from foreign banks directly and indirectly because every day you read about another investment in a domestic bank and they will be bringing in risk management, better processes and more capital.

Our top line growth was more than respectable. Our bottom line growth, however, was not.

This settlement should not have a significant effect on our business going forward.

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.

I'm excited to have the opportunity to lead one of the true e-commerce innovators.

Internal capital generation has been pretty powerful and it's not going to take a lot of new equity to combine with internal capital generation to get to over 4 per cent, ... And we would like to do it as soon as practical.