Citigroup Sees Equity, Fixed-Income Revenue Down as Much as 20%

Citigroup Inc. expects revenue from its markets business, which includes equity and fixed-income trading, to drop 15 percent to 20 percent in the last three months of 2015 compared with the third quarter.

The bank is also likely to fall short of its 10 percent goal for return on tangible common equity this year, Chief Financial Officer John Gerspach said Wednesday at a conference in New York sponsored by Goldman Sachs Group Inc.

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