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From Citigroup takes top spot in global IPO underwriting through September

How will Citigroup's successful global IPO deals affect Goldman Sachs' market position?

Citigroup's successful global deals challenge Goldman Sachs' market leadership Citigroup has taken the top spot in global IPO underwriting for the year through September, according to data compiled by Bloomberg. This leadership is underpinned by successful major deals, including the National Stock Exchange of India Ltd.’s $2.4 billion listing in Mumbai in September and the SK Hynix Inc.’s $26.5 billion Nasdaq listing in July. Furthermore, Citigroup is actively hiring senior investment bankers from competitors, including Charlie Black from Goldman Sachs, demonstrating a successful talent acquisition strategy.

Reported by 1 independent outlet Written Oct 6
Effect
Strong negative
How direct
2 steps, all reported
When
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The story
Gone quiet

How it reaches Goldman Sachs

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The facts so far

As reported. Each one links to where it comes from.

  • Citigroup took the top spot for underwriters in global initial public offerings for the year through September.business-standard.com
  • Citi was ahead of Goldman Sachs in the league tables, according to data compiled by Bloomberg.business-standard.com
  • Citi worked on the National Stock Exchange of India Ltd.’s $2.4 billion listing in Mumbai in September.business-standard.com
  • Citi led the SK Hynix Inc.’s $26.5 billion Nasdaq listing in July.business-standard.com
  • Citi hired Charlie Black from Goldman as head of North America technology ECM.business-standard.com

Why it matters

For Goldman Sachs, the competitive landscape is intensifying as Citigroup demonstrates a successful strategy of securing high-profile global mandates and attracting top talent. This market pressure is evident in the successful deals Citi has closed, including the major listings in India and the US, which are direct competitors for the same business.

What we don't know yet

  • How will Goldman Sachs respond to Citigroup's aggressive hiring and successful deal flow?
  • What is the current status of the global IPO pipeline for the remainder of the year?

What would change this answer

Goldman Sachs secures a major global mandateThis would balance the competitive pressure by demonstrating continued market strength and successful execution.
Citigroup loses its leading position in the league tablesThe competitive balance might shift, allowing Goldman Sachs to regain parity in the global IPO market.

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  • About JPMorgan

    How is JPMorgan positioned relative to Citigroup and Goldman Sachs in the current global IPO market?

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The full eventCitigroup takes top spot in global IPO underwriting through September Everything aboutGoldman Sachs

Brind's analysis is written by AI from the reporting linked above and can be wrong. It is not investment advice; do your own research.