Group finance director Tushar Mozaria said Barclays' positions in flow rates and credit and FX would stand it in good stead in the longer term, noting that the firm's less capital-intensive equity and investment banking franchises gave the firm "a diversity we did not have pre-crisis". Mozaria said Barclays' equity capital markets business had seen significant growth, highlighting the bank's strong performance in the IPO market. Mozaria said January FICC income was "materially stronger" than Q4 2013, but said it was "too early to call" the quarter.