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Citigroup ends tough year for dealmaking with 58% revenue fall
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Citigroup's investment banking fees slipped by 58% in the final three months of 2022, capping a difficult year for dealmakers during which revenue halved and banks rolled out job cuts.
The Wall Street bank made $3.1bn in investment banking fees last year, a 53% decline on 2021 when fees reached new highs across the sector. In the final three months of the year, Citi's dealmakers brought in around $1bn, which was a fall of 58%. Rival JPMorgan posted a 48% decline in dealmaking fees for 2022, while fees at rival Bank of America...
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