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Citigroup’s dealmaker fees slip 63% amid hiring spree
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Fees from dealmaking slipped by 63% at Citigroup during the third quarter, a bigger decline than its Wall Street rivals as the bank continues to invest in senior bankers.
Citigroup brought in $631m in investment banking revenue during the third quarter, down from $1.8bn a year earlier. The 63% decline during the period compares with a 47% fall at JPMorgan and 55% at Morgan Stanley.
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