Citi eyes prime brokerage opportunities

The bank targets clients to grow their wallet share

John Gerspach, chief financial officer at Citi

Citi aims to seize more prime brokerage (PB) business to increase wallet share with its targeted clients, says chief financial officer John Gerspach, and it will put more assets and capital towards its prime brokerage business at the same time as competitors are retrenching from the space.

The bank is already one of the world's largest foreign exchange prime brokers, although it has pulled back from smaller clients – a segment it previously embraced keenly – amid a market-wide rearrangement of

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