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‘We just didn’t do as good a job’: Citi’s stock-trading business is slowing down after a stellar start to 2018 (C)





Michael Corbat Brian Moynihan

  • Citigroup reported strong third-quarter earnings Friday, beating analyst expectations and growing profit by 12%.
  • Trading revenues were robust in aggregate, but equities momentum slowed, growing just 1% compared to the same period in 2017.
  • Cash equities was fingered as the culprit, with losses overshadowing gains in the prime and derivatives businesses.
  • “We just didn’t do as good a job navigating the choppy trading environment in cash equities,” CFO John Gerspach said.
  • The stock-trading business, which had experienced growth in recent periods, was reorganized in March.

After a hot start to the year, Citigroup is showing signs of weakness in one its read more >>>

Source:: BusinessInsider.Com

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