Question-and-Answer Session
Operator
So we'll take questions first from analysts either in the room on the phone.
Claudia Meier - Vontobel
Claudia Meier from Bank Vontobel. I have two questions if I may. The first one is on DRCM. Can you confirm that those 385 million we have seen is now old? I mean this is above the 300 million you have guided so there is no more to come and secondly, still on DRCM, the 230 million we have seen that you have booked in fixed income revenues within the Investment Bank; is this out of about 1 billion DRCM funds you have disclosed? So this would be the first. And the second question I would have is on Investment Bank. I have been very pleased to see how strong the Investment Banking revenues have hold up. There was a lot of talk on Ken Moelis leaving and to be a key rainmakers of probably you can follow up on this one. Thank you.
Marcel Rohner - Group Chief Executive Officer
Let me start with the second question and then I will hand over to Clive. He will give you all the details on DRCM. With respect to our Investment Banking department, I can indeed say that we are extremely pleased with where we are today. The Investment Bank has shown 50% and 62% growth rates quarter-to-quarter, year-on-year and we have seen that by the time Ken Moelis left, we have already established ourselves very firmly as one of the leading investment banks with year-to-date ranking number four in the worldwide IBD fee pool. And this shows the bench strength we currently have in the system and it shows that we are also resilient against departure of individuals who clearly have a very important position in there. This was about a position we were aiming at when several years ago we have embarked on our organic growth of the Investment Banking business and this is now a very, very satisfactory, pleasing actually result. On DRCM, can you give the breakdowns? There is a whole range of number so.
Clive Standish - Group Chief Financial Officer
In the results presentation of Q1, we actually flagged that we are restructuring charge for DRCM. We said that we felt at that stage, it will be about $300 million. In actual fact, it is $314 million, which translates into that Swiss franc number of 384 million Swiss francs. That translates in the post-tax number of 229 million Swiss francs. All of that number has been booked in the second quarter. So there will be no booking of anything in the third quarter at all. The other side of the equation with DRCM, we said in the first quarter 2007 that they were negative revenues related to DRCM of 150 million Swiss francs. And in the second quarter, we disclosed that there are negative revenues of 230 million related to those portfolios. The DRCM portfolios are now fully integrated within the investment bank. And so will not be disclosed separately going forward, but will obviously be part of the trading numbers within the Investment Bank in subsequent quarters.
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