Citigroup Inc

A diversified financial services holding company

Categories

Financial and Banking  
Summary

Citi Group is an American multinational investment bank and financial services corporation headquartered in New York City. It serves more than 200 million customer accounts and does business in more than 160 countries and jurisdictions.


History

Citigroup’s origins date to the early 19th century. In 1811, the U.S. Congress refused to renew the charter of the First Bank of the United States: the country’s central bank, which had branches in cities such as New York. Thus, on June 16, 1812, some of the First Bank’s New York shareholders and other investors secured state incorporation of the City Bank of New York, which was later established in the branch banking rooms of the old First Bank. The bank grew as New York City became the nation’s commercial and financial capital, and in 1865 it was chartered under the National Bank Act and renamed the National City Bank of New York. 

In 1897, it became the first large American bank to open a foreign department and, in 1915, became America’s leading international bank upon the purchase of International Banking Corporation (founded 1902), which had 21 overseas offices in 13 countries and territories. Other mergers and acquisitions in the United States and overseas expanded the bank. 

Notably, in 1931, it acquired the Bank of America, N.A. (another descendant of the First Bank of the United States and no relation to the former California-based bank founded by Amadeo Peter Giannini). In 1955, it merged with the First National Bank of the City of New York (founded in 1863). Upon the latter merger, the consolidated company took the name of First National City Bank of New York. The company was later on, formed by the merger of banking giant Citicorp and financial conglomerate Travelers Group in 1998.


Mission

Citi’s mission is to responsibly provide financial services that enable growth and economic progress.


Vision

Citigroup vision statement is: "We believe that excellence in consulting requires client advocacy and stewardship, a passion for leading-edge investment solutions and the delivery of experienced consulting services in a way that helps us exceed our clients expectations every day."


Key Team

John C. Dugan (Chairman)

Jane Fraser (CEO)


Recognition and Awards
Citigroup is listed on Dow Jones Sustainability North America index since 2001, and FTSE4Good Indec since 2002. It is a 100% Corporate Equality Index Company according to the Human Rights Campaign (HRC) since 2004, and was listed on Bloomberg Gender Equality Index in 2019. In 2019, it was part of America’s Most Responsible Companies by Newsweek, ranking seventh overall out of 300 firms and top-ranked company in the financial services sector. In 2020, it was one of the largest securities services providers, having over $23.6 trillion in assets under custody (AUC). Citigroup also ranked 33rd on the Fortune 500 as of 2021.

References
Citigroup Inc
Leadership team

John C. Dugan (Chairman)

Jane Fraser (CEO)

Industries

Financial and Banking

Products/ Services
Credit cards, Retail banking, Commercial banking, Investment banking, Private banking, Financial analysis
Number of Employees
Above 50,000
Headquarters
New York, United States
Established
1998
Company Registration
SEC CIK #0000831001
Revenue
Above - 1B
Traded as
NYSE: C S&P 100 component S&P 500 component
Social Media

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Sat Mar 02 2024
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