How Citgroup fixed its M&A business

http://www.businessweek.com/bwdaily/dnflash/content/jun2007/db20070630_760955.htm?chan=top+news_top+news+index_businessweek+exclusives -Its M&A business neck to neck with leaders GS and MS, JPM -Its M&A busiuness was crashed in dot.com bust when its former telecom banker and anslyst Jack Grubsman was enmeshed in Worldcom scandal -Trend of PE is larger deals and cross-border -Citi has the scale and scope to make large deals and local expertise to serve cross-border deals -Different from GS, MS, JPM, Citi does not build up its own private equity, hedge funds, and proprietary trading. -Citi worked on 9 out of 10 deals