Citigroup Inc. (Citi) Overview
Headquarters: New York City, USA
CEO: Jane Fraser (as of 2024)
Founded: 1812 (as City Bank of New York)
Industry: Banking, Financial Services, Investment Banking
Stock Symbol: C (NYSE)
Key Facts About Citigroup
- One of the Largest U.S. Banks: Over $2.4 trillion in assets, ranking among the top financial institutions.
- Global Presence: Operates in more than 95 countries, making it one of the most internationally focused U.S. banks.
- Diverse Services: Offers retail banking, corporate banking, credit cards, wealth management, and investment banking.
- Strong Credit Card Business: Manages some of the largest credit card partnerships, including Costco, American Airlines, and AT&T.
- Digital Transformation: Expanding digital banking services and AI-driven financial solutions.
Major Business Divisions
- Personal Banking & Wealth Management (PBWM): Consumer banking, credit cards, and wealth management services.
- Institutional Clients Group (ICG): Corporate and investment banking, capital markets, and risk management.
- Markets & Securities Services: Trading in equities, fixed income, commodities, and currencies.
- Legacy Franchises: Managing businesses Citi is exiting, including consumer banking in certain international markets.
Recent Developments & Achievements
- CEO Jane Fraser’s Restructuring Plan: Citi is undergoing a major reorganization to improve efficiency and profitability.
- Exiting Non-Core Markets: Scaling back consumer banking operations in some international markets to focus on institutional clients.
- Sustainability Goals: Committed to achieving net-zero emissions by 2050 and financing $1 trillion in sustainable investments.
- Stock Performance: Citi remains a key player in global finance, with strong institutional banking operations.
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