Citi’s battle for the top spot in Wall Street’s M&A league tables hit a strange turn when former President Donald Trump took to Truth Social to applaud the bank and its chief, Jane Fraser, for ranking first in deal advisory during Q1. The post sparked instant debate across finance desks at the market floor today and outside.

The tweet was not tied to a specific ranking source, but Fox Business anchor Maria Bartiromo had earlier praised Citi for topping power‑industry M&A numbers on her show. Trump’s message arrived minutes after her broadcast, prompting speculation that the former president was reacting to the same data in the market today.

Citi shares leapt more than 1 % after the endorsement, then slipped into negative territory. Bank officials remain silent, while insiders report confusion over the source of Trump’s claim. The praise nevertheless signals a rare public nod to Fraser, who has steered the bank’s relationship with the administration since the 2024 election in the financial arena today and for investors to.

Although the claim’s validity remains unclear, the incident underscores how political endorsement can momentarily lift a firm’s market perception. Wall Street rivals warn that such boosts are short‑lived, and Citi must continue improving its M&A rankings to challenge Goldman, Morgan and JPMorgan consistently for investors.