07:45 AM EDT, 06/20/2024 (MT Newswires) -- Citigroup ( C ) aims to strengthen its presence in Europe despite investor concerns over political instability, Reuters reported on Thursday, citing Ignacio Gutierrez-Orrantia, the company's new head for the region.

"Our ambition is to be number one, whether it takes us three, four or five years. We are committed to reaching the top," Gutierrez-Orrantia told Reuters.

Despite noting the uncertainties surrounding upcoming elections in the UK and France, Gutierrez-Orrantia sees these challenges as opportunities for Citi to offer strategic guidance to clients navigating the instability, according to Reuters.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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