BAC Bank of America Corporation

Citigroup Inc. Chief Financial Officer John Gerspach said fourth-quarter trading would rise close to 20% compared to a year ago.

Speaking at the Goldman Sachs financial services conference, Mr. Gerspach said the bank had benefited from increased client activity that started with the U.K.'s vote in June to exit from the European Union and continued after the U.S. presidential election. He said that stronger demand came from both corporate clients and investor clients.

His statements were in line with what the bank's president, James Forese, said last month, when he told analysts and investors that fourth-quarter trading was "meaningfully better" than a year ago.

Mr. Gerspach's comments also echoed those made by two rival banks at the same conference the day before.

J.P. Morgan Chase & Co. CEO James Dimon said Tuesday that he expects fourth-quarter trading revenue to be up about 15% from a year earlier. Bank of America Corp. CEO Brian Moynihan said he expected a 15% gain in his bank's fixed-income trading division.

Write to Christina Rexrode at christina.rexrode@wsj.com

(END) Dow Jones Newswires

December 07, 2016 09:15 ET (14:15 GMT)

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