Business institution demoting top figure (3)

I believe the answer is:

two

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'figure' is the definition.
(two is a number)

I can't explain the rest of the clue.

(Other definitions for two that I've seen before include "limited company?" , "Fifth root of thirty-two" , "II" , "Between one and three" , "Prime number" .)

I've seen this clue in The Independent.

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