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Citi Is Bringing Back One of the Most Infamous Bets of the Credit Crisis

  • Post-crisis, Jia Chen has become the face of market’s revival
  • Citigroup dominates, but Wall Street eyes bigger slice of pie
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Photographer: David Paul Morris/Bloomberg
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Jia Chen was in London again this summer -- just one of the many trips she’s recently made across the Atlantic -- to peddle a product left for dead in the ruins of the financial crisis.

The 35-year-old Citigroup Inc. director has spent the past two years meeting clients, speaking at industry panels and becoming the face of a resurgent market for synthetic CDOs -- complex derivatives that let buyers make big, leveraged bets on the health of corporate America. Along the way, she’s helped establish Citigroup as its dominant player.