Brian Moynihan, the CEO of Bank of America, stated that the bank's Investment Banking business quarterly revenue is expected to increase by at least 25% year-on-year, while sales and Trade business is expected to reach a new high. Moynihan said on Wednesday at the Goldman Sachs Financial Services Conference that as Trade "continues to grow," Investment Banking revenue in the fourth quarter may exceed $1.4 billion. Analysts had previously estimated that the second-largest U.S. bank's Investment Banking revenue would be close to $1.5 billion, representing about a 27% increase. Meanwhile, Moynihan indicated that the sales and Trade business should again record year-on-year growth, achieving mid-to-high single-digit growth in the last quarter of this year. Analysts predict that market revenue will grow 8.2% to $4.06 billion. "The business led by Jim DeMare has already taken a step forward, but we’re going to set a record in the fourth quarter, so we feel very good," Moynihan said.