Citigroup

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Citigroup review by professional Forex trading experts the “” FX trading team. Finding out all about Citi Bank.

What is Citigroup

Citigroup Inc. or Citi (stylized as citi and pronounced like “city”) is an American multinational investment banking and financial services corporation headquartered in Manhattan, New York City. The company was formed by the merger of banking giant Citicorp and financial conglomerate Travelers Group in 1998; however, Travelers was spun off from the company in 2002. Citigroup now owns Citicorp, holding company for Citibank, and several international subsidiaries.

Citigroup ranks 4th on the list of largest banks in the United States by assets and is one of the Big Four banks in the United States, alongside JPMorgan Chase, Bank of America, and Wells Fargo.In 2016, Citigroup ranked 29th in size on the Fortune 500 list.

Citigroup has over 200 million customer accounts and does business in more than 160 countries. Citigroup has 219,000 employees, although it had 357,000 employees at its height, before the financial crisis of 2007-2008.

Citigroup suffered huge losses during the financial crisis of 2007-2008 and was rescued in November 2008 in a massive stimulus package by the U.S. government.

Citi Current operations

Citigroup is the holding company for the following divisions:

  • Citigroup Global Markets, Inc., Citigroup Global Markets Limited (UK), and Citigroup Global Markets Japan – broker dealers, including one of 24 primary dealers in United States Treasury securities.
    • Citi’s Institutional Clients Group (ICG) offers investment and corporate banking services and products for companies, governments, institutions, and ultra high-net-worth investors. ICG consists of the following five main divisions:
      • Capital Markets Origination is focused on the capital-raising needs such as public offerings, private placements, and special purpose acquisition companies.
      • Corporate & Investment Banking provides strategic and financing products and advisory services to multinational and local corporations, financial institutions, governments, and privately held businesses in more than 160 countries. It also provides client services such as mergers & acquisitions advice and underwriting of initial public offerings.
      • Markets & Securities Services includes investor services and direct custody and clearing, hedge fund and private equity servicing, and issuer businesses. It provides financial products through underwriting, sales & trading of a range of investment assets. Products offered include servicing of equities, commodities, credit, futures, foreign exchange (FX), emerging markets, G10 rates, municipals, prime finance/brokerage services, and securitized markets, such as collateralized debt obligations and mortgage-backed securities. Its Citi Research team provides equity and fixed income research, company, sector, economic and geographic market analysis, and product-specific analysis for Citi’s individual and institutional clients. Its flagship research reports include the following: Portfolio Strategist, Bond Market Roundup, U.S. Economics Weekly, International Market Roundup, Global Economic Outlook & Strategy and the Global Equity Strategist.
      • Citi Private Bank advises professional investors, ultra high-net-worth individuals and families, and lawyers throughout the world. It uses an open architecture network of more than 800 private bankers and investment professionals across 46 countries and jurisdictions to provide clients access to global investment opportunities. It has over $250 billion in assets under management. The minimum net worth requirement is $25 million in liquid assets and is waived for only law firm groups and other clients under special circumstances. Citibank: Private Bank
      • Treasury and Trade Solutions (TTS) provides cash management, trade and securities services to companies, governments, and other institutions in the U.S. and more than 140 countries. TTS intermediates more than $3 trillion in global transactions daily. It has over $13 trillion assets under custody, about $377 billion in average liability balances, serves 99% of world’s Fortune 100 companies and ~85% of the world’s Fortune 500 companies, and has 10 regional processing centers worldwide using global processes. Institutions use TTS to support their treasury operations with global solutions for payments, collections, liquidity and investments by working in partnership with export credit agencies and development banks. It also sells supply chain financing products as well as medium- and long-term global financing programs across multiple industries. Clients doing business with Citi in 10 or more countries generate more than 60% of Transaction Services’ total revenues.
  • Grupo Financiero Banamex – the second largest bank in Mexico, it serves about 20 million clients.
  • Citicorp – the holding company for Citibank as well as several international banks. Citicorp contains two core businesses, Global Consumer Banking and Institutional Clients Group.
    • Citibank Retail banking encompasses Citi’s global branch network, branded Citibank. Citibank has more than 4,600 branches in the world and holds more than $300 billion in deposits. Citibank is the 4th largest retail bank in the United States based on deposits, and it has Citibank branded branches in countries throughout the world, with the exception of Mexico which is under a separate subsidiary called Banamex. Citibank offers checking and savings accounts, small business and commercial banking and personal wealth management among its services. Citibank offers Citigold services worldwide to mass affluent clients with at least US$200,000 in liquid assets. In certain markets, Citigold Select is available for clients with at least US$500,000 in liquid assets. Its highest level of service, Citigold Private Client, is for high-net-worth individuals with at least $1–$3 million in liquid assets (depending on the market region) and offers access to investments and ideas from Citi Private Bank.
    • Citi Branded Cards is the world’s largest credit card issuer.
    • Citi Retail Services is one of the largest providers of private label and co-branded credit cards, retail consulting services, and retail loyalty products in the U.S.
    • Citi Commercial Bank serves 100,000 small to medium-size companies in 32 countries.
    • CitiMortgage originates real estate mortgages

Citi Group Offices

Citigroup New York City

Citigroup Center, a diagonal-roof skyscraper located in Midtown Manhattan, New York City, is Citigroup’s most famous office building, which despite popular belief is not the company’s headquarters building. Citigroup has its headquarters located in downtown Tribeca (388 Greenwich). Citigroup also owns a building in Tribeca, Manhattan at 388 Greenwich Street that serves as headquarters for its Investment and Corporate Banking operations and was the former headquarters of the Travelers Group.

All of Citigroup’s New York City real estate, excluding the company’s Smith Barney division and Wall Street trading division, lies along the New York City Subway’s IND Queens Boulevard Line, served by the E and ​M trains. Consequently, the company’s Midtown buildings—including 787 Seventh Avenue, 666 Fifth Avenue, 399 Park Avenue, 485 Lexington, 153 East 53rd Street (Citigroup Center) in Manhattan, and One Court Square in Long Island City, Queens, are all on the short four-stop corridor of the Queens Boulevard Line between Court Square and Seventh Avenue.

Naming rights to Citi Field

Citigroup owns the naming rights to Citi Field, the home ballpark of the New York Mets Major League Baseball team, via a $400 million, 20-year deal that commenced with the stadium opening in 2009.

Citigroup Chicago

Citicorp Center in Chicago has a series of curved archways at its peak, and sits across the street from major competitor ABN AMRO’s ABN AMRO Plaza. It has shops and restaurants serving Metra customers via the Ogilvie Transportation Center.

Citigroup Review Conclusion

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