Citigroup Inc.
Citigroup Inc., commonly known as Citi, is a prominent American multinational investment bank and financial services corporation based in New York City. The company was formed in 1998 through the merger of Citicorp, a major banking institution, and Travelers Group, a financial conglomerate. In 2002, Travelers was spun off, leaving Citigroup as a unified entity. Citigroup owns Citicorp, the parent company of Citibank, along with several international subsidiaries.
Ranked as the third-largest bank in the United States, Citigroup is part of the “Big Four” alongside JPMorgan Chase, Bank of America, and Wells Fargo. The bank is considered a systemically important financial institution, classified as “too big to fail” due to its size and impact on the global financial system. Additionally, it is one of the nine global investment banks that make up the Bulge Bracket.
As of 2018, Citigroup held the 32nd spot on the Fortune 500 list. The bank serves over 200 million customer accounts and operates in more than 160 countries worldwide. Citigroup employs 214,000 individuals, a significant reduction from the 357,000 employees it had before the 2007-2008 financial crisis, when the company was saved by a substantial U.S. government bailout.
Contact Info
- www.citigroup.com/citi
- New York, United States
