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Citigroup Bets on Commodities as Rivals Consider Retreat

Citigroup Inc. plans to hire more commodities salespeople in a multiyear effort to add revenue and market share while some of its biggest rivals scale back.

“We have made great progress in the last couple of years and expect that positive trajectory to continue,” Jose Cogolludo, global head of sales, said in an interview. New York-based Citigroup, the third-largest U.S. bank, will increase its sales staff about 15 percent during the next year from the 80 people it has now, he said.