Citi s&t outlook

Based on the most helpful WSO content, here's what you need to know about Citi's S&T outlook:

1. Post-Restructuring and Current Focus:

   • Citi has traditionally been strong in Rates and FX, largely due to its extensive international presence and legacy in local markets. These areas remain a core strength.
   • In Commodities, Citi is one of the few banks with a full-service division, alongside JPMorgan. This positions them well in this niche market.
   • Equities, while not historically a standout for Citi, appears to be an area of focus for improvement. However, the broader equities space has faced challenges due to automation and technology-driven changes.

2. Future Outlook:

   • Citi's S&T division is expected to maintain relevance in Rates and FX, given its established dominance and flow in these areas.
   • The restructuring efforts and focus on specific strengths (like commodities and FX) suggest a strategic approach to maintaining competitiveness in a rapidly evolving market.

3. Street Perception:

   • Citi's S&T desks are generally well-regarded for their strengths in specific products. For example, Rates at Citi is considered one of the most well-known on the street, and FX benefits from Citi's global footprint.
   • While Citi has exited certain markets (e.g., some commodities), its focus on core areas has helped maintain its reputation in those segments.

4. Exits:

   • Exits from Citi's S&T division are viewed positively, particularly for those coming from its stronger desks like Rates and FX. These desks provide solid technical and market knowledge, which can be valuable for transitioning to hedge funds or other buy-side roles.

In summary, Citi's S&T division remains relevant, with a strong foothold in Rates, FX, and Commodities. While equities may be an area for improvement, the bank's strategic focus on its core strengths positions it well for the future.

Sources: Strongest Groups within S&T at BBs, HELP: The Future of the S&T Job Market and Selecting the Right Desk, Changing face of Investment Banks, https://www.wallstreetoasis.com/forum/investment-banking/should-i-pursue-st-or-ib?customgpt=1, Why choose Sales and Trading over Investment Banking?