Citigroup grabbed a larger share of the global fixed income market in 2014, ranking in the top three for the first time, amid a trend of falling revenues across the world’s biggest banks according to Greenwich Associates.

In doing so, the US bank has turned around a business which was left "staring into the abyss" at the start of the financial crisis, according to Conor Davis, Citi's head of investor sales for Europe, the Middle East and Africa.