Citi traders and investment bankers come roaring back

Wall Street Bull

You might be surprised which firm is on the up!

Citigroup’s Wall Street operations took the bank to the brink seven years ago. But now, in a little-noticed revival, Citigroup’s traders and investment bankers have come roaring back.

The New York Times reports that the bank’s resurgence on Wall Street is all the more remarkable because it is taking place as many of its rivals pull back in the face of new regulations intended to make the financial system safer.

The Wall Street operations of JPMorgan Chase and Goldman Sachs, for instance, have remained steady or shrunk during the last four years.

Citigroup’s advance has involved acquiring vast amounts of derivatives, the financial instruments that gained notoriety during the 2008 financial crisis. It has at times snapped up derivatives from other banks that have been selling them to comply with new rules.

Citigroup, however, has not trumpeted its comeback. 

To access the complete New York Times article hit the link below:

Citigroup’s Roaring Revival on Wall Street

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