Citigroup's stock traders posted record revenue in the second quarter, with several of the bank's key business lines beating Wall Street expectations
Citigroup's stock traders posted record revenue in the second quarter, with several of the bank's key business lines beating Wall Street expectations. Second-quarter equity trading revenue surged 45% from a year earlier to $2.3 billion, about 11% higher than the all-time record set in the first few months of the year. The bank is trying to attract more hedge funds to further develop the business. Citigroup's stock-trading business is slightly smaller than that of its top Wall Street rivals.