Citi Shuts Muni Business That Once Was Envy of Rivals
finance.yahoo.com
(Bloomberg) -- Citigroup Inc. will shutter its municipal business, one of the most dramatic moves yet by Chief Executive Officer Jane Fraser as she seeks to squeeze better returns out of the Wall Street giant.Most Read from BloombergCiti Shuts Muni Business That Once Was Envy of RivalsHungary Vetoes Ukraine Aid After EU Backs Membership TalksOwner of the Philippines’ Largest Malls Says China Feud May Hurt BusinessesRange Rovers Become Thief-Magnets, Causing Prices to TumbleHouthi Attacks Push Sh

Yahoo link, but to bloomberg article that’s prob paywalled. Posted on supa but being voted to oblivion.

“Reports that Citigroup was deciding whether to exit a business it once dominated shocked the municipal market earlier this year. For decades, the bank was a powerhouse in the $4 trillion market for US state and local debt, helping on landmark projects including the rebuilding of the World Trade Center site and the installation of 65,000 streetlights around the city of Detroit.”