Type – Public NYSE: C, TYO: 8710 BVPASA: CIT
Founded – New York City (1812)
Headquarters – New York City, New York, United States
Key people – Richard D. Parsons (Chairman),Vikram Pandit (CEO),John Gerspach (CFO)
Industry – Financial services
Products – Consumer Banking,Corporate Banking,Investment Banking, Global Wealth Management,Investment Research,Private Equity
Revenue – US$ 104 billion (2009)
Operating income – US$ 49 billion (2009)
Net income – US$ -1.6 billion (2009)
Total assets – US$ 1.93 trillion (2009)
Total equity – US$ 141.630 billion (2009)
Employees – 300,000 (2009)
Citigroup Website – Citigroup.com

Brief History Of Citigroup Who Owns Citigroup?

Citigroup was formed on October 8, 1998, following the $140 billion merger of Citicorp and Travelers Group to create the world’s largest financial services organization. Heavy exposure to troubled mortgages in the form of Collateralized debt obligation (CDO’s), compounded by poor risk management led Citigroup into trouble as the subprime mortgage crisis worsened in 2008.

Over the past several decades, the United States government has engineered at least four different rescues of the institution now known as Citigroup. During the most recent tax-payer funded rescue, by November 2008, Citigroup was insolvent, despite its receipt of $25 billion in federal TARP bailout money, and on November 17, 2008 Citigroup announced plans for about 52,000 new job cuts, on top of 23,000 cuts already made during 2008 in a huge job cull resulting from four quarters of consecutive losses and reports that it was unlikely to be in profit again before 2010.

On February 27, 2009 Citigroup announced that the United States government would be taking a 36% equity stake in the company by converting $25 billion in emergency aid into common shares. Citigroup shares dropped 40% on the news.

On June 1, 2009, it was announced that Citigroup Inc. would be removed from the Dow Jones Industrial Average effective June 8, 2009 due to significant government ownership. Citigroup Inc. was replaced by Citigroup’s sister firm, insurance company Travelers Co.

Divisions And Products

Global Consumer Group -
Global Consumer Group comprises four sub-divisions: Cards (credit cards), Consumer Lending Group (Real-Estate Lending, Auto Loans, Student Loans), Consumer Finance, and Retail Banking.

Citi Cards
Citi Cards is responsible for around 40% of the profits with GCG, and represents the largest issuer of credit cards across the world as well as a 3,800-point ATM network across 45 countries.

Citibank
Citibank is the third largest retail bank in the United States based on deposits (although it has considerably fewer retail branches than many of its smaller rivals), and it has Citibank branded branches in countries throughout the world.

Global Wealth Management
Global Wealth Management divides itself into Citi Private Bank, Citi Smith Barney and Citi Investment Research, and generated 7% of Citigroup’s total revenue in 2006.

Other Divisions are:
Citi Private Bank,Citi Smith Barney,Citi Investment Research,Citi Institutional Clients Group,Citi Markets and Banking and Citi Alternative Investments