Citigroup’s dealmakers posted a 44% surge in fees during the third quarter, fuelled by a jump in M&A and debt underwriting revenue.
The US bank, which unveiled a huge overhaul of its business around a year ago, brought in $999m in investment banking fees during the third quarter. The 44% rise is the biggest of any Wall Street bank to report earnings so far, and comes as Citi is looking to gain ground on rivals in dealmaking.
