Banks Gear Up For Volcker Rule As Deal Fees Decline

Banks are looking at ways to make money after the Volcker Rule takes effect, just as investment banking fees suffered a third straight drop in Q1. The Dodd-Frank financial reforms include the so-called Volcker Rule, which bans proprietary trading, or the use of bank money when making risky trades. But JPMorgan Chase (

), Citigroup (

) and UBS (

) are moving staff to asset management units so traders can use the strategies they did under