Citi’s Stock Traders Extend Hot Streak as Bank Sees Sale Hit
- Stock trading revenue rises 40% pushing haul above $1 billion
- Fraser says recovery is driving corporate, consumer confidence
Photographer: David Paul Morris/Bloomberg
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Citigroup Inc.’s equities traders surpassed analyst estimates for a fifth straight quarter, adding to signs that investments in expanding the business are starting to take hold.
The 40% jump in revenue from stock trading -- a business long overshadowed by rivals’ larger franchises and Citigroup’s own fixed-income division -- pushed the unit’s haul above $1 billion for a third-straight period, it said in a statement.