The long-awaited rebound in investment banking has yet to materialize, making for a disappointing quarter.
by scott_jr Citigroup CEO Jane Fraser: “The long-awaited rebound in investment banking has yet to materialize, making for a disappointing quarter.” Trading, which was stronger earlier in the year, also turned weaker. Citigroup’s revenue from that business fell 13%. JPMorgan’s revenue associated with trading equities and fixed income also …