Citigroup has sold the capital markets business it inherited from Legg Mason just three months ago to Stifel Financial, a US financial services company.

Stifel said it would pay up to $95m (€77.4m) for the investment banking, stock and bond research, equity sales and trading, structured finance and trading aspects of Legg Mason's capital markets business.

Citigroup offloads Legg Mason's capital markets

Anuj Gangahar in New York

Citigroup

Stifel Financial

Legg Mason

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Coutts hires ex-JPMorgan banker James Todd as next private client boss

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Todd replaces Camilla Stowell who left the NatWest-owned wealth in January

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