Citigroup joined rivals in saying it’s benefiting from the jump in market volatility this year.
Bloomberg News reports that first-quarter trading revenue is on pace to post a percentage increase of “low to mid-single digits” from a year earlier, Chief Financial Officer John Gerspach said at an investor conference Tuesday.
The equities business has a chance to hit $1 billion in revenue this quarter, he said, which would be the first time eclipsing that mark since 2015.
The bank’s equities and foreign-exchange businesses have seen the biggest boost as markets have experienced sharper swings, Gerspach said. While investors stepped away during some of the most volatile periods, they’ve largely been more active this quarter, he said.
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