Citigroup

Citigroup, Inc., commonly known as Citi, is a multinational financial services corporation headquartered in New York City. It is one of the largest banks in the United States and operates in more than 160 countries and jurisdictions. Citigroup provides a wide range of financial products and services, including consumer banking, corporate and investment banking, securities brokerage, transaction services, and wealth management.

Citigroup was formed in 1998 through the merger of Citicorp and Travelers Group. Citicorp was a leading banking institution, while Travelers Group was a financial conglomerate that owned various insurance and investment businesses. The merger was one of the largest in history at the time and created a highly diversified financial services company.

Over the years, Citigroup has faced various challenges and undergone significant changes. It weathered the global financial crisis of 2008 and received financial assistance from the U.S. government. In the aftermath, it underwent restructuring and focused on streamlining its operations. Citigroup sold off non-core assets and businesses to strengthen its balance sheet and improve its financial position.

Citigroup operates through multiple business segments, including Global Consumer Banking, Institutional Clients Group, Corporate/Other, and Citi Private Bank. The Global Consumer Banking segment serves individual consumers and offers banking, lending, and investment services. The Institutional Clients Group serves corporations, governments, and institutions with various financial solutions. Citi Private Bank provides wealth management services to high-net-worth individuals and families.