Citigroup pulls ahead of Paribas

Citigroup pulled ahead of French rival BNP Paribas this week to rank as the top arranger of the $491 billion of syndicated loans arranged in Europe this year, as companies borrow to step up acquisitions.

Citigroup boosted its share of the market to 8.9%. BNP Paribas is number two with 8.7%, followed by Barclays.