Citigroup’s Trading Revenue Likely to Jump 10% This Quarter, Fraser Says
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Citigroup Inc.’s trading revenue is likely to jump 10% in the fourth quarter compared to a year earlier as volatile markets continue to spur client activity across Wall Street.
Chief Executive Officer Jane Fraser said the bank’s trading desks should help the firm deliver the “low-single-digit” revenue growth it promised for this year. This quarter, the improved trading revenue is likely to counter a 60% drop in investment-banking revenue, she said.