Citigroup advisory reaps fruit of broking gains

Citigroup is poised to win its first advisory mandate from Tate & Lyle since replacing Hoare Govett as the UK food company's broker a year ago.

The appointment comes less than 24 hours after the US bank converted its broking role for UK insurer Wellington Underwriting, another ex-Hoare Govett client, into an advisory mandate.

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