Citigroup, commonly known as Citi, is one of the largest global financial services corporations, with operations in over 160 countries. Here are the essential details about Citigroup:

Overview

• Founded: 1812 as City Bank of New York
• Headquarters: New York City, New York, USA
• CEO: Jane Fraser (as of 2024)
• Ticker Symbol: C (NYSE)
• Business Divisions: Institutional Clients Group, Global Consumer Banking, Corporate/Other

Core Businesses

1. Institutional Clients Group (ICG):
   • Investment Banking: Advisory and underwriting services for mergers and acquisitions (M&A), capital markets.
   • Markets and Securities Services: Sales, trading, and distribution of a broad range of financial products including equities, fixed income, commodities, and currencies.
   • Treasury and Trade Solutions: Cash management, trade finance, and liquidity services for corporate clients.
2. Global Consumer Banking (GCB):
   • Retail Banking: Branch banking, credit cards, loans, and deposits.
   • Citi Private Bank: Wealth management services for high-net-worth individuals.
   • Branded Cards: Credit card products and services.
3. Corporate/Other:
   • Includes legacy assets, treasury, and corporate functions.

Recent Developments

• Technology and Digital Banking: Emphasis on digital transformation, enhancing mobile banking capabilities, and investing in fintech.
• Environmental Initiatives: Commitments to sustainability and ESG (Environmental, Social, and Governance) principles, including financing green projects.
• Regulatory Compliance: Focus on improving compliance and risk management processes, especially post-financial crisis reforms.

Reputation and Challenges

• Reputation: Known for its vast international network and innovative financial solutions.
• Challenges: Regulatory scrutiny, adapting to digital disruption, and managing global economic fluctuations.

Key Statistics

• Employees: Over 200,000 globally.
• Revenue: Around $75 billion annually.
• Net Income: Typically between $15 billion and $20 billion, varying with market conditions.
• Assets: Over $2 trillion.

Historical Milestones

• 1998: Formation of Citigroup through the merger of Citicorp and Travelers Group.
• 2008: Significant impact from the global financial crisis, leading to substantial government aid and restructuring.
• 2011: Completed the sale of non-core businesses and re-focused on core financial services.