Reuters - Citigroup to boost equities

Citi Building Canary Wharf

Citigroup plans to rebuild its long-neglected equities franchise seeking to capitalise on a retrenchment by rivals in the face of new rules designed to make the financial system less risky, according to people familiar with the bank's plans.

Reuters reports that a lack of investment in equities and a traditional focus on bond trading kept the bank by assets in the lower echelons of equities league tables, which measure how much revenue Wall Street banks earn from their equity trading units.

It will be tough to dislodge leaders such as Goldman Sachs, Morgan Stanley, and JPMorgan, that have long dominated the business.

But having shored up its business and capital ratios since the financial crisis, largely by spinning off non-core assets, Citi now aims to profit from a retreat of rivals that were slow in adapting to new rules that force banks to keep more capital, two people with direct knowledge of Citi's plans told the news agency.

To access the complete Reuters article hit the link below:

Citi aims to boost equities franchise amid industry shakeout

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