© Reuters. FILE PHOTO: People walk beneath a Citibank branch logo in the financial district of San Francisco, California July 17, 2009. REUTERS/Robert Galbraith/File Photo
(Reuters) – Citigroup (NYSE:) global head of markets Andy Morton told an investor conference on Wednesday that he expects the company’s investment banking wallet to be down around 50-55% for the second quarter while markets revenue should increase north of 25% year-year.
Morton, speaking during a webcast of a Morgan Stanley (NYSE:) conference, cited a decline in issuance and in M&A for the investment banking decline. The executive also said Citi is looking to win equities business from its fixed income clients.