Citigroup Inc. Chief Financial Officer John Gerspach said second-quarter trading revenue could be down 20 percent to 25 percent from year-earlier levels in a market he described as “becalmed.”
Citigroup Inc., the third-largest U.S. bank by assets, expects to avoid “massive” reductions in staffing as it lays off workers amid a market slowdown, Chief Financial Officer John Gerspach said.
Citigroup Inc. Chief Financial Officer John Gerspach said the lender’s securities unit did well in January and that activity in trading and banking businesses looks similar to how last year began.
Citigroup Inc. Chief Financial Officer John Gerspach said fourth-quarter revenue from capital markets and investment banking will probably fall short of last year’s final three months.
The U.S. economy probably shrank last quarter for the first time in three years, data this week may show.
"We have been working to compress the trades and what you will see when we publish results at the end of the fourth quarter is a reduction in the reported amount of gross notionals."
- John Gerspach on Jan 15, 2015