Citigroup markets head sees Q2 investment banking drop, markets increase
June 15 (Reuters) – Citigroup global head of markets Andy Morton told an investor conference on Wednesday that he expects the company’s investment banking wallet to be down around 50-55% for the second quarter while markets revenue should increase north of 25% year-year.
Morton, speaking during a webcast of a Morgan Stanley conference, cited a decline in issuance and in M&A for the investment banking decline. The executive also said Citi is looking to win equities business from its fixed income clients.
Reporting By Noor Zainab Hussain, Sinéad Carew
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