We've noted that FICC has been powering profits at several top firms, such as Goldman Sachs and Bank of America. Some of the profits have been eye popping. So it comes as no surprise that banks want to build up in this area.

Bank of America, for example, may expand its metals and energy team by 25 percent in the next two to three years as it seeks even bigger profits, reports Bloomberg. It has already staffed up in Asia. Revenue from FICC rose to $2.69 billion in the second quarter for the bank, four times more than a year earlier, the article notes. You can't blame a bank for staffing up, but willy-nilly plans to expand may end in disappointment.

The field will only get more crowded. Spreads have to decline. Volume may drop from their current levels. The big profit surge may already be over.

For more:
- here's the article

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