Citigroup CEO Jane Fraser Declares 'Game On' for M&A with $25 Billion Apollo Partnership Amid Pent-Up Demand

Citigroup CEO Jane Fraser has announced an aggressive strategy to enhance the bank's investment banking reputation, particularly in the mergers and acquisitions (M&A) sector. During recent remarks, Fraser emphasized that there is significant pent-up demand for M&A activity in the U.S., stating, "it is game on" for such deals. She highlighted the importance of scale in the competitive landscape, noting that many clients who had previously hesitated are now eager to engage in transactions. Fraser also revealed that Citigroup's new partnership with Apollo Global Management (ticker: $APO) provides the bank with $25 billion in resources to support its M&A ambitions. This initiative aligns with Citigroup's broader goal of winning business from private equity firms, which are seen as crucial to revitalizing the bank's investment banking division.