Citi's markets business was transformed by a British man who recently disappeared

Citi's markets business is better than it used to be. Speaking at last week's investor day , Andy Morton , the US bank's popular head of markets, observed that in the dark days of 2023, the return on average tangible common equity in the business was only 8%. In the first quarter of 2021 it was 19%. 

Times have changed.

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They have done so partly thanks to the work of a group of people in London. Key among them was Jon Lofthouse, who we understand has