Citigroup Wiki

[1] Industry Financial services Products Consumer Banking Corporate Banking Stockbroking Investment Banking Global Wealth Management Investment Research Private Equity Structured Products Revenue –¼ US $81.70 billion (2007)

[2] Net income –¼ US $3.62 billion (2007)

[2] Employees 332,000 (2007) Slogan Let's get it done. Website www.citigroup.com Citigroup Inc. (NYSE: C), operating as Citi, is a major American financial services company based in New York City, formed from the merger of Citicorp and Travelers Group on April 7, 1998.

[3] According to Forbes Global 2000 in March 2007, it is the largest company in the world with total assets of US $2.4 trillion (as of Sept 2007)

[4] The company employs 332,000 staff around the world, and holds over 200 million customer accounts in more than 100 countries.

[4] It is a primary dealer in US Treasury securities

[5] and its stock has been a component of the Dow Jones Industrial Average since March 17, 1997.

[6] Its single largest shareholder is Abu Dhabi Investment Authority, the investment arm of Abu Dhabi government. This sovereign wealth fund became the largest shareholder after it injected $7.5 billion of capital in late-2007 in exchange for a 4.9 percent stake in Citigroup after the bank announced significant write-offs to cover losses in the U.S. subprime mortgage market.

[7] The second largest shareholder with a 3.6 percent stake is Kingdom Holding Company owned by Prince Al-Waleed bin Talal of Saudi Arabia. On December 11, 2007, Vikram Pandit was named Citigroup's CEO, while Sir Win Bischoff was named chairman. Charles Prince, the Chairman and CEO, had resigned on November 4, 2007. Between that time, Bischoff had served as interim CEO while Robert Rubin was chairman of the board.

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[8] Contents 1 History 1.1 Citicorp 1.2 Travelers Group 1.3 Citicorp and Travelers merger 1.4 Travelers spin off 2 Business model 3 Real estate 4 Divisions 4.1 Global Consumer Group 4.1.1 Citi Cards 4.2 Global Wealth Management 4.2.1 Citi Private Bank 4.2.2 Citi Smith Barney 4.2.3 Citi Investment Research 4.3 Citi Institutional Clients Group 4.3.1 Citi Markets and Banking 4.3.2 Citi Alternative Investments 5 Business issues 5.1 Citigroup proprietary government bond trading scandal 5.2 Recent regulatory action 5.3 The Terra Securities Scandal 5.4 Egg credit card cancellations 6 Brands 7 Sponsorships 8 Political donations 9 See also 9.1 Ancestor companies 10 References 11 External links

[edit] History 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.

[3] The history of the company is, thus, divided into the history of several firms that over time amalgamated into Citicorp, a multinational banking corporation operating in more than 100 countries; or Travelers Group, whose businesses covered credit services, consumer finance, brokerage, and insurance. As such, the company history dates back to the founding of: the City Bank of New York (later Citibank) in 1812; Bank Handlowy in 1870; Smith Barney in 1873, Banamex in 1884; Salomon Brothers in 1910.

[9]

[edit] Citicorp Citicorp Center (now Citigroup Center), New York City The history of Citicorp began with the founding of the City Bank of New York, which was chartered by New York State on June 16, 1812 with $2 million of capital. Serving a group of New York merchants, the bank opened for business on September 14 of that year, and Samuel Osgood was elected as the first President of the company.

[10] The company's name was changed to The National City Bank of New York in 1865 after the joining the new U.S. national banking system, and it became the largest American bank by 1895.

[10] It became the first contributor to the Federal Reserve Bank of New York in 1913, and the following year it inaugurated the first overseas branch of a U.S. bank in Buenos Aires. The 1918 purchase of U.S. overseas bank International Banking Corporation helped it become the first American bank to surpass $1 billion in assets, and it became the largest commercial bank in the world in 1929.

[10] As it grew, the bank became a leading innovator in financial services, becoming the first bank to offer compound interest on savings (1921); unsecured personal loans (1928); customer checking accounts (1936) and the negotiable certificate of deposit (1961).

[10] The bank changed its name to The First National City Bank of New York in 1955, which was shortened to First National City Bank on the 150th anniversary of the company's foundation in 1962.

[10] The company organically entered the leasing and credit card sectors, and its introduction of USD certificates of deposit in London marked the first new negotiable instrument in market since 1888. Later to become MasterCard, the bank introduced its First National City Charge Service credit card - popularly known as the "Everything card" - in 1967.

[10] During the mid-1970s, under the leadership of CEO Walter Wriston, First National City Bank (and its holding company First National City Corporation) was renamed as Citibank, N.A. (and Citicorp, respectively). Shortly afterward, the bank launched the Citicard, which pioneered the use of 24-hour ATMs.

[10] As the bank's expansion continued, the Narre Warren-Caroline Springs credit card company was purchased in 1981. John S. Reed was elected CEO in 1984, and Citi became a founding member of the CHAPS clearing house in London. Under his leadership, the next 14 years would see Citibank become the largest bank in the United States, the largest issuer of credit cards and charge cards in the world, and expand its global reach to over 90 countries.

[10]

[edit] Travelers Group Travelers Group, at the time of merger, was a diverse group of financial concerns that had been brought together under CEO Sandy Weill. Its roots came from Commercial Credit, a subsidiary of Control Data Systems that was taken private by Weill in November 1986 after taking charge of the company earlier that year.

[3]

[11] Two years later, Weill mastered the buyout of Primerica - a conglomerate that had already bought life insurer A L Williams as well as stock broker Smith Barney. The new company took the Primerica name, and employed a "cross-selling" strategy such that each of the entities within the parent company aimed to sell each other's services. Its non-financial businesses were spun-off.

[11] The corporate logo of Travelers Inc. (1993-1998) prior to merger with Citicorp. In September 1992 Travelers Insurance, which had suffered from poor real estate investments

[3] and sustained significant losses in the aftermath of Hurricane Andrew,

[12] formed a strategic alliance with Primerica that would lead to its amalgamation into a single company in December 1993. With the acquisition, the group became Travelers Inc. Property & casualty and life & annuities underwriting capabilities were added to the business.

[11] Meanwhile, the distinctive Travelers red umbrella logo, which was also acquired in the deal, was applied to all the businesses within the newly named organization. During this period, Travelers acquired Shearson Lehman - a retail brokerage and asset management firm that was headed by Weill until 1985

[3] - and merged it with Smith Barney.

[11] Finally, in November 1997, Travelers Group (which had been renamed again in April 1995), made the $9 billion deal to purchase Salomon Brothers, a major bond trader and investment bank.

[11]

[edit] Citicorp and Travelers merger On April 6, 1998, the merger between Citicorp and Travelers Group was announced to the world creating a $140 billion firm with assets of almost $700 billion.

[3] The deal would enable Travelers to market mutual funds and insurance to Citicorp's retail customers while giving the banking divisions access to an expanded client base of investors and insurance buyers. The first logo (1998-2007) of the merged company, incorporating the Travelers' "red umbrella". Although presented as a merger, the deal was actually more like a stock swap, with Travelers Group purchasing the entirety of Citicorp shares for $70 billion, and issuing 2.5 new Citigroup shares for each Citicorp share. Through this mechanism, existing shareholders of each company owned about half of the new firm.

[3] While the new company maintained Citicorp's "Citi" brand in its name, it adopted Travelers' distinctive "red umbrella" as the new corporate logo, which was used until 2007. The chairmen of both parent companies, John Reed and Sandy Weill respectively, were announced as co-chairmen and co-CEOs of the new company, Citigroup, Inc., although the vast difference in management styles between the two immediately presented question marks over the wisdom of such a setup. The remaining provisions of the Glass-Steagall Act - enacted following the Great Depression - forbade banks to merge with insurance underwriters, and meant Citigroup had between two and five years to divest any prohibited assets. However, Weill stated at the time of the merger that they believed "that over that time the legislation will change...we have had enough discussions to believe this will not be a problem".

[3] Indeed, the passing of the Gramm-Leach-Bliley Act in November 1999 vindicated Reed and Weill's views, opening the door to financial services conglomerates offering a mix of commercial banking, investment banking, insurance underwriting and brokerage.

[13]

[edit] Travelers spin off The current logo for Travelers Companies The company spun off its Travelers Property and Casualty insurance underwriting business. The spin off was prompted by the insurance unit's drag on Citigroup stock price because Traveler's earnings were more seasonal and vulnerable to large disasters. It was also difficult to sell this kind of insurance directly to customers since most industrial customers are accustomed to purchasing insurance through a broker. The Travelers Property Casualty Corporation merged with The St. Paul Companies Inc. in 2004 forming The St. Paul Travelers Companies. Citigroup retained the life insurance and annuities underwriting business; however, it sold those businesses to MetLife in 2005. Citigroup still heavily sells all forms of insurance, but it no longer underwrites insurance. Despite their divesting Travelers Insurance, Citigroup retained Travelers' signature red umbrella logo as its own until February 2007, when Citigroup agreed to sell the logo back to St. Paul Travelers,

[14] which renamed itself Travelers Companies. Citigroup also decided to adopt the corporate brand "Citi" for itself and virtually all its subsidiaries, except Primerica and Banamex.

[14] On April 11, 2007 Citigroup said it will eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock.

[15] On January 7, 2008 Citigroup announced that it is considering cutting 5 percent to 10 percent of its work force, which totals 327,000.

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[edit] Business model Citigroup and its predecessor companies use the "diversified financial services business model" first invented by Prudential in the late seventies. Simply put, this model attempts to conglomerate many types of finance companies, such as stock brokers, banks, insurance companies, and others. This is done because each of those businesses do better or worse at different times of the business cycle, and so owning all of them balances things out and creates in theory less earnings volatility. This is also done because customers usually use many different kinds of financial products and attempting to convince them to use more products from the same company sells more products more cheaply, compared to those separate companies strictly selling products on their own. During the era of Sandy Weill, much of Citigroup and predecessor's efforts were focused on acquisitions. Much of the efforts were focused in the stock brokerage and investment banking areas, and most of the acquisitions were companies which had recently had problems and were selling at a low price. After the acquisition, the management team would usually engage in aggressive cost cutting to build up cash for the next deal. Former CEO, Chuck Prince, has said "the day of the transformative deal (merger) is over". This is thought to refer to mega deals like the Citicorp/Travelers merger, as Citigroup continues to acquire. The focus of the company though, is said to have changed to organic revenue growth, that is selling more products instead of focusing on acquisitions and cost cutting alone to increase profit. Citigroup's 2005 sale of the remainder of Travelers Insurance to MetLife was described by the press as the death knell of the bank-insurance cross-selling model. This is a false analysis though, as Citigroup continues to cross sell insurance, but no longer underwrites it. This focus on selling almost all kinds of financial products, but not necessarily "manufacturing them", is also what prompted Citigroup to recently trade its mutual fund business to Legg Mason in return for more stockbrokers.

[edit] Real estate Citigroup Center, Chicago Citigroup EMEA headquarters, Canary Wharf, London Citigroup's most famous office building is the Citigroup Center, a diagonal-roof skyscraper located in East Midtown, Manhattan, New York City, which despite popular belief is not the company's headquarters building. Citigroup has its headquarters across the street in an anonymous-looking building at 399 Park Avenue (the site of the original location of the City National Bank). The headquarters is outfitted with nine luxury dining rooms, with a team of private chefs preparing a different menu for each day. The management team is on the third and fourth floors above a Citibank branch. Citigroup also leases a building in the TriBeCa neighborhood in Manhattan at 388 Greenwich St, that serves as headquarters for its Investment and Corporate Banking operations and was the former headquarters of the Travelers Group. Strategically, 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 V 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), and Citicorp Building in Long Island City, Queens, are all no more than two stops away from each other. In fact, every company building lies above or right across the street from a subway station served by the E or V. Chicago also plays home to an architectural beauty operated by Citigroup. Citicorp Center 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 a host of retail and dining facilities serving thousands of Metra customers daily via the Ogilvie Transportation Center.

[edit] Divisions Citigroup is divided into three major business groups: Global Consumer, Global Wealth Management, and the newly formed Citi Institutional Clients group (as of October 11, 2007) comprising Citi Markets & Banking (CMB) and Citi Alternative Investments (CAI).

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[edit] Global Consumer Group Generating 55% of Citigroup's 2006 revenues, 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. Targeting individual consumers as well as small- to medium-sized businesses, GCG offers financial services across its worldwide branch network, including banking, loans, insurance, and investment services.

[edit] 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. The Consumer Finance division (branded "CitiFinancial") accounts for about 20% of GCG's profits, and offers personal loans and homeowner loans to consumers across its network of 50 branches in 20 countries worldwide.

[18] The takeover of Associates First Capital in September 2000 enabled CitiFinancial to expand its reach outside of the United States, particularly capitalizing on Associates' 700,000 customers in Japan and Europe.

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[20] Finally, the retail bank encompasses the Citi's global branch network, branded Citibank. Citibank is the third largest retail bank in the United States, and it has branches in countries throughout the world, with the exception of Mexico, where Citiparner Banamex is the country's largest bank.

[edit] 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.

[21] As revenues are predominantly derived from investment income, Global Wealth Management is more sensitive to the direction and level of the equity and fixed-income markets than other divisions of the company.

[22]

[edit] Citi Private Bank Citi Private Bank provides banking and investment services to high net worth individuals, private institutions, and law firms. Acting as a gateway to all of Citigroup's products, Citi Private Bank offer traditional investment products and alternative choices, with all clients assigned a Private Banker to personally deal with their portfolio.

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[edit] Citi Smith Barney Citi Smith Barney is Citi's global private wealth management unit, providing brokerage, investment banking and asset management services to corporations, governments and individuals around the world. With over 800 offices worldwide, Smith Barney holds 9.6 million domestic client accounts, representing $1.562 trillion in client assets worldwide.

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[edit] Citi Investment Research Citi Investment Research is Citi's equities research unit comprised of 390 research analysts across 22 countries. Citi Investment Research covers 3,100 companies, representing 90 percent of the market capitalization of the major global indices, providing macro and quantitative analysis of global markets and sector trends.

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[edit] Citi Institutional Clients Group Citi announced on October 11, 2007 the formation of the new Institutional Clients Group comprising Citi Markets & Banking (CMB) and Citi Alternative Investments (CAI) with Vikram Pandit, 50, as its Chairman and CEO.

[25] Vikram Pandit was promoted to CEO of the entire company two months later.

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[edit] Citi Markets and Banking Containing Citi's most market-sensitive divisions, "CMB" is divided into two primary businesses: "Global Capital Markets and Banking" and "Global Transaction Services" (GTS). Global Capital Markets and Banking provide investment- and commercial-banking services covering institutional brokerage, advisory services, foreign exchange, structured products, derivatives, loans, leasing, and equipment finance. Meanwhile, GTS offer cash-management, trade finance and securities services to corporations and financial institutions worldwide.

[22] CMB are responsible for around 32% of Citigroup's annual revenues, generating just under US $30 billion in 2006 financial year.

[21]

[edit] Citi Alternative Investments Citi Alternative Investments (CAI) is an alternative investment platform that manages assets across five classes - private equity, hedge funds, structured products, managed futures, and real estate. Across 16 "boutique investment centers", it offers various funds or separate accounts that utilize alternative investment strategies, as opposed to the mainstream mutual funds that it recently sold to Legg Mason. CAI manages Citigroup proprietary capital as well as institutional investments from third-parties and high-net-worth investors. As of June 30, 2007, CAI holds US$59.2 billion under capital management,

[26] and contributed 7% of Citigroup's 2006 income.

[21]

[edit] Business issues Citigroup Centre in Sydney

[edit] Citigroup proprietary government bond trading scandal Citigroup was criticized for disrupting the European bond market by rapidly selling ‚¬11 billion worth of bonds on August 2, 2004 on the MTS Group trading platform, driving down the price, and then buying it back at cheaper prices.

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[edit] Recent regulatory action On March 23, 2005, the NASD announced total fines of $21.25 million against Citigroup Global Markets, Inc., American Express Financial Advisors and Chase Investment Services regarding suitability and supervisory violations relating to mutual fund sales practices between January 2002 and July 2003. The case against Citigroup involved recommendations and sales of Class B and Class C shares of mutual funds.

[28] On June 6, 2007, the NASD announced more than $15 million in fines and restitution against Citigroup Global Markets, Inc., to settle charges related to misleading documents and inadequate disclosure in retirement seminars and meetings for BellSouth Corp. employees in North Carolina and South Carolina. NASD found that Citigroup did not properly supervise a team of brokers located in Charlotte, N.C., who used misleading sales materials during dozens of seminars and meetings for hundreds of BellSouth employees.

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[edit] The Terra Securities Scandal In November 2007 it became public that the Citigroup is heavily involved in the Terra Securities scandal, which involved investments by eight municipalities of Norway in various hedge funds in the United States bond market.

[30] The funds were sold by Terra Securities ASA to the municipalities, while the products were delivered by Citigroup. Terra Securities ASA filed for bankrupty November 28, 2007, the day after they received a letter

[31] from The Financial Supervisory Authority of Norway announcing withdrawal of permissions to operate. The same letter also stated, "The Supervisory Authority contends that Citigroup's presentation,

[32] as well as the presentation from Terra Securities ASA,

[33] appears insufficient and misleading because central elements like information about potential extra payments and the size of these are omitted."

[edit] Egg credit card cancellations Citigroup bought the UK online bank Egg Banking plc from Prudential plc in 2007. On 2 February 2008, Egg decided to cancel the credit cards of 161,000 (7%) of its customers. The bank gave customers 35 days' notice, after which they will not be able to spend more on their cards. Although Egg's action was publicised as an attempt to purge "risky" customers from their books, many affected customers came forward with claims that they had excellent credit histories. This led to speculation that the move was an attempt to remove customers who pay off their card balances in full, do not accumulate interest on their accounts, and therefore do not generate profit for Egg and thence Citigroup.

[edit] Brands Citibank, providing consumer banking products. Banamex, largest Mexican bank Banco Cuscatlan, El Salvador biggest bank. Banco Uno, Central America largest credit card bank. Citimortgage, mortgage lender CitiInsurance, insurance provider Citicapital, Institutional financial services Citifinancial, Consumer finance aka subprime lending Citigroup Alternative Investments, Global Wealth Management Diners Club, credit cards. Primerica, engages in direct selling of financial services Smith Barney, investment services, both retail full service brokerage, private client services, and formerly the brand name used for the investment bank CitiCard, Credit Cards Credicard Citi, credit card business in Brazil Citigroup recently acquired the Egg brand when it purchased Egg Banking plc, the worlds largest internet bank, from Prudential. Its first major act was to cease lending to around 7% of card holders who were condsidered to be undesirable. This also included some who regularly paid off balances in full, claiming this was due to "deteriorating credit profiles" but is widely believed to be due to the low profit margins obtained from responsible borrowers.

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[edit] Sponsorships An editor has expressed concern that this article or section may be unencyclopedic and should be deleted. This is primarily a statement about the article's subject, not necessarily its quality or veracity. Please review what Wikipedia is not and try to resolve any objections on the talk page. If you agree that it is not encyclopedic, consider proposing or discussing its deletion. This section does not cite any references or sources. Please improve this section by adding citations to reliable sources. Unverifiable material may be challenged and removed. (January 2008) Presenting sponsor of the Rose Bowl college football game, part of the Bowl Championship Series Sponsor of the Roush-Fenway Racing NASCAR Nationwide Series Ford's driven by Carl Edwards, Matt Kenseth, Greg Biffle, Jamie McMurray, Erik Darnell, and Colin Braun. The sponsorship will rotate among the #16, #17, and #60 for all 35 Nationwide Series races. Naming rights sponsor of Citi Field, the new baseball stadium of the New York Mets to be located in Flushing, Queens, N.Y. and to open in the 2009 season. Edinburgh University Men's Lacrosse Club. Werder Bremen, a top German football team in the Bundesliga 1 Steaua Bucuresti, a top Romanian football team in the Liga 1 University of Warwick Debating Society Citibank Park in Central Islip, New York. London School of Economics Business Society Queens College, Cambridge Boat Club

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[edit] Political donations Citigroup is the 16th largest political campaign contributor, out of all organizations, according to the Center for Responsive Politics. Members of the firm have donated over $23,033,490 from 1989-2006, 49% of which went to Democrats and 51% of which went to Republicans.

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[edit] See also Bank Commercial bank Investment bank Private bank Thomson Financial League Tables

[edit] Ancestor companies City Bank of New York 1812 (founded) Farmers' Fire Insurance Loan Company 1822 Merchants Exchange Bank in the City of New York 1829 First National Bank of the City of New York 1863 The Travelers Life and Accident Insurance Company 1864 Kuhn, Loeb &Co. 1867 Charles D. Barney &Co. 1873 Ferdinand Salomon 1880 Hayden Stone &Co. 1892 Rhoades &Co. 1898 Shearson Hammill &Co. 1902 E.F. Hutton &Co. 1904 Salomon Brothers 1910 Commercial Credit 1912 Carter, Berlind, Potoma &Weill 1960 v €¢ d €¢ e List of investment banks ABN AMRO €¢ Banc of America Securities €¢ Barclays Capital €¢ Bear Stearns €¢ BNP Paribas €¢ Citigroup €¢ Credit Suisse €¢ Deutsche Bank €¢ Dresdner Kleinwort €¢ Goldman Sachs  €¢ Greenhill  €¢ HSBC €¢ JPMorgan Chase €¢ JP Turner &Company  €¢ Lazard €¢ Lehman Brothers  €¢ Macquarie Bank €¢ Merrill Lynch €¢ Morgan Stanley €¢ Nomura Securities  €¢ Raymond James  €¢ Rothschild €¢ RBC Capital Markets  €¢ Thomas Weisel Partners  €¢ UBS  €¢ Wachovia v €¢ d €¢ e 50 largest American banks and bank holding companies Associated €¢ BancWest €¢ Bank of America €¢ Bank of New York Mellon €¢ BBVA USA €¢ BB&T €¢ BOK Financial €¢ Capital One €¢ Citigroup €¢ Citizens Financial Group €¢ City National €¢ Colonial €¢ Comerica €¢ Commerce Bancorp €¢ Commerce Bancshares €¢ FBOP €¢ Fifth Third €¢ First BanCorp €¢ First Citizens €¢ First Horizon National €¢ First National of Nebraska €¢ Fulton €¢ Harris €¢ HSBC Bank USA €¢ Huntington €¢ JPMorgan Chase €¢ Key €¢ M&T €¢ Marshall & Ilsley €¢ National City €¢ New York Community €¢ New York Private €¢ Northern Trust €¢ PNC €¢ Popular €¢ RBC Centura €¢ Regions €¢ State Street €¢ SunTrust €¢ Synovus €¢ Taunus €¢ TCF €¢ TD Banknorth €¢ U.S. €¢ UnionBanCal €¢ W Holding €¢ Wachovia €¢ Webster €¢ Wells Fargo €¢ Zions Bancorporation

[edit] References ^ BusinessWeek: Citigroup Inc. names Gary Crittenden CFO ^ a b Citi (2008-01-15). "Full Year 2007 Revenues of $81.7 Billion, Net Income of $3.62 Billion". Press release. Retrieved on 2008-01-21. ^ a b c d e f g h Martin, Mitchell. "Citicorp and Travelers Plan to Merge in Record $70 Billion Deal : A New No. 1: Financial Giants Unite", International Herald Tribune, 1998-04-07. Retrieved on 2007-04-04.  ^ a b Henderson, Ian. "Citigroup is 'world's largest firm'", 999 Today, 2007-03-30. Retrieved on 2007-04-04.  ^ Primary Dealers List, Federal Reserve Bank of New York Official Site. Retrieved on April 27, 2007 ^ Dow Jones Industrial Average History. Retrieved on April 27, 2007 ^ http://www.citigroup.com/citigroup/press/2007/071126j.htm ^ a b c Citigroup (2007-12-11). "Citi Board Names Vikram Pandit Chief Executive Officer and Sir Win Bischoff Chairman". Press release. Retrieved on 2007-12-12. ^ About Citi, Citigroup Official Website. Retrieved 2007-04-04. ^ a b c d e f g h About Citi - Citibank, N.A., Citigroup Official Website. Retrieved 2007-05-12. ^ a b c d e About Citi - Primerica Financial Services, Citigroup Official Website. Retrieved 2007-04-04. ^ Survival Insurance. TIME (2001-06-24). Retrieved on 2007-09-17. ^ Heakal, Reem (2003-07-16). What Was The Glass-Steagall Act?. Investopedia. Retrieved on 2007-09-13. ^ a b Citigroup Announces Unified, Global Brand Identity Under "Citi" Name - Citigroup Press Release, 2007-02-13 ^ Citigroup to Slash 17,000 jobs. Yahoo News, April 11, 2007. ^ Citi mulls cutting work force by 5 to 10 percent: report. Reuters, January 7, 2008. ^ "Citi Forms Institutional Clients Group",

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[Citigroup Inc. (NYSE: C) ]], 2007-10-11. Retrieved on 2007-10-21.  ^ CitiFinancial - About us. CitiFinancial UK. Retrieved on 2007-09-13. ^ Citigroup to Acquire Associates First Capital Corporation. Citigroup Press Release (2000-09-06). Retrieved on 2007-09-13. ^ CitiFinancial: Who We Are: Our History. CitiFinancial. Retrieved on 2007-09-13. ^ a b c Citigroup Annual Report, 2006 ^ a b Braden, Frank. "A Compelling Case for Citigroup", Business Week, 2007-04-17. Retrieved on 2007-09-13.  ^ Citi Private Bank: Welcome. Retrieved on 2007-09-13. ^ a b Citigroup - Our Businesses. Citigroup. Retrieved on 2007-09-13. ^ Citigroup (10-11-2007). "Citi Forms Institutional Clients Group". Press release. Retrieved on 2007-10-11. ^ Overview of CAI. Citi Alternative Investments. Retrieved on 2007-09-13. ^ Under Pressure, Citigroup Climbs Down on Govie Trade euroweek.com. Retrieved March 7, 2007 ^ NASD News Release ^ NASD regulatory action finra.org Retrieved Sept. 19, 2007 ^ Mark Landler: "U.S. Credit Crisis Adds to Gloom in Arctic Norway" New York Times, December 2, 2007 (Retrieved on December 14, 2007) ^ Letter from The Financial Supervisory Authority of Norway to Terra Securities ASA (2007-11-27). ForhÃ¥ndsvarsel om tilbakekall av tillatelse. (Norwegian). (Retrieved on December 14, 2007) ^ "Citigroup Municipal Investors TOB Capital Municipal Portfolio" (document discussed in "Letter from The Financial Supervisory Authority of Norway to Terra Securities ASA (2007-11-27). ForhÃ¥ndsvarsel om tilbakekall av tillatelse.") ^ "Terra Securities €“ Kommune fond linket obligasjon" (document discussed in "Letter from The Financial Supervisory Authority of Norway to Terra Securities ASA (2007-11-27). ForhÃ¥ndsvarsel om tilbakekall av tillatelse.") ^ http://www.opensecrets.org/orgs/summary.asp?ID=D000000071&Name=Citigroup+Inc Tearing Down the Walls by Monica Langley ISBN 0-7432-4726-4 Yahoo! - Citigroup Inc. Company Profile C: Star Analysts for CITIGROUP - Yahoo! Finance Citigroup Reaches Settlement on WorldCom Class Action Litigation for $1.64 Billion After-Tax See SEC - Company Information: CITIGROUP INC 4 November 2004 - Q3 2004 10-Q 4 March 2004 - 2003 10-K See also Citigroup, and Yahoo! January 20, 2005 - Earnings Conference Call (Q3 2004) (press release)(slides) (audio) 14 October 2004 - Earnings Conference Call (Q3 2004) (slides) (audio) 15 July 2004 - Earnings Conference Call (Q2 2004) (slides) (audio) 20 October 2003 - Earnings Conference Call (Q3 2003) (slides) (audio) (*exclusive, last call with Sandy Weill) 31 January 2005 - MeeLife to Acquire Travelers Life & Annuity (presentation) (audio)

[edit] External links Company website v €¢ d €¢ e Citigroup Brands: Banamex €¢ Citibank €¢ Citicapital €¢ CitiFinancial €¢ Citigold €¢ Citi Private Bank €¢ Citigroup Venture Capital €¢ Diners Club €¢ Egg €¢ Primerica €¢ Salomon Brothers €¢ Smith Barney €¢ Quilter Key people: Vikram Pandit €¢ Al-Waleed bin Talal €¢ Robert Rubin €¢ Sir Winfried Bischoff €¢ Gary Crittenden €¢ Sallie Krawcheck €¢ William R. Rhodes €¢ Lewis B. Kaden Notable former executives: Sandy Weill €¢ Chuck Prince €¢ Jamie Dimon €¢ Ahmed Fahour €¢ Stanley Fischer €¢ Lewis Glucksman €¢ Thomas W. Jones €¢ Victor Menezes €¢ Samuel Osgood €¢ John Reed €¢ James Stillman Rockefeller €¢ William Rockefeller €¢ Moses Taylor €¢ Sandy Weill €¢ Robert B. Willumstad €¢ Walter B. Wriston Corporate Directors: Michael Armstrong €¢ Alain Belda €¢ George David €¢ Kenneth T. Derr €¢ John M. Deutch €¢ Roberto Hernández Ramírez €¢ Ann Jordan €¢ Klaus Kleinfeld €¢ Andrew N. Liveris €¢ Dudley Mecum €¢ Anne Mulcahy €¢ Richard Parsons €¢ Chuck Prince €¢ Judith Rodin €¢ Robert Rubin €¢ Franklin A. Thomas €¢ Sandy Weill Local entities: Canada €¢ China €¢ Hong Kong €¢ Japan €¢ Malaysia €¢ Mexico €¢ Singapore €¢ Taiwan Annual revenue: $146.7 billion USD · Employees: 332,000 · Stock Symbol: NYSE: C and TSE: Citi · Website: www.citigroup.com v €¢ d €¢ e Dow Jones Industrial Average companies Current stocks 3M · Alcoa · Altria Group · American Express · American International Group · AT&T · Boeing · Caterpillar · Citigroup · The Coca-Cola Company · DuPont · ExxonMobil · General Electric · General Motors · Hewlett-Packard · Home Depot · Honeywell · Intel · IBM · Johnson &Johnson  · JPMorgan Chase · McDonald's · Merck &Co.  · Microsoft · Pfizer · Procter &Gamble  · United Technologies · Verizon · Wal-Mart · The Walt Disney Company Former stocks American Telephone &Telegraph  · American Tobacco Company · Chevron · Eastman Kodak · Goodyear Tire and Rubber Company · International Paper · North American Company · Sears Roebuck · Union Carbide · United States Rubber Company €¹ The template below (Multi banners) is being considered for deletion. See templates for deletion to help reach a consensus. €º Companies portal United States portal Retrieved from "http://en.wikipedia.org/wiki/Citigroup" Categories: Companies listed on the New York Stock Exchange | Articles which may be unencyclopedic | Articles needing additional references from January 2008 | Citigroup | Dow Jones Industrial Average | Companies established in 1986 | Companies based in New York City | Financial services companies of the United States