With over 800 offices worldwide, Smith Barney held 9.6 million domestic client accounts, representing $1.562 trillion in client assets worldwide. The company id for this entity is K835434. Please be advised that this site is not optimized for use with Microsoft Internet Explorer 6. [119] The government guaranteed losses on more than $300 billion of troubled assets and injected $20 billion immediately into the company. [22] 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.[67]. A leaked 2005 report prepared by Citi global strategists for their investor clients documented the imbalance of wealth between the top 1% and the bottom 60% of [242][243], Between 1998 and 2014, Citigroup spent nearly $100 million lobbying the federal government. [153], In February 2016, the company was subject to a lawsuit as a result of the bankruptcy of a Mexican oil services firm. During this period, Travelers acquired Shearson Lehmana retail brokerage and asset management firm that was headed by Weill until 1985[22]and merged it with Smith Barney. Stanford Univ. Citigroup, Inc. New York, NY. Citi, the leading global bank, serves more than 200 million customer accounts and does business in more than 160 countries and jurisdictions. Its headquarters are located in the Shin-Marunouchi Building in Otemachi, Chiyoda, Tokyo. [177], In January 2022, Citi further announced its plan to exit consumer banking in Mexico, as well as small-business and middle-market banking operations. United States, United Kingdom, and Canada) households. It is Citi's international broker Purchase Lets Citibank Expand Long Island Presence", "Citi Swallows EAB Sandy Takes On J.P. Morgan Chase in NY", "Citigroup to Buy European American Bank in Bid to Increase N.Y. Market Share", "Citigroup to Buy Mexican Bank In a Deal Valued at $12.5 Billion", "Citigroup to Spin Off Travelers Insurance", "Travelers Group, Form 8-K, Current Report, Filing Date", "Citigroup Saw No Red Flags Even as It Made Bolder Bets", "Citi mulls cutting work force by 5 to 10 percent: report", "U.S. Agrees to Rescue Struggling Citigroup", "FRB: Press Release-Joint statement by Treasury, Federal Reserve, and the FDIC on Citigroup", "Citigroup gets massive government bailout", "Citi's Corbat Has Parting Words: 'Banking Is Quickly Changing', "U.S. Approves Plan to Help Citigroup Weather Losses", "Wall Street Compensation'No Clear Rhyme or Reason", "The Special Master's Determinations for Executive Compensation of Companies Receiving Exceptional Assistance Under TARP", "Citi private bank targets doubled growth", "Citi to Reorganize into Two Operating Units to Maximize Value of Core Franchise", "Citigroup Reports Big Loss and a Breakup Plan", "U.S. Plans $500,000 Cap on Executive Pay in Bailouts", "U.S. exits Citigroup stake and earns $12 billion profit", "Citi CEO Pandit's salary soars to $1.75 million from $1", "Travelers, Cisco Replace Citi, GM in Dow", "Citigroup, Morgan Stanley Agree to Merge Brokerages", "Morgan Stanley Completes Purchase of Smith Barney Venture", "Pandit Missed Out on a Sweeter Smith Barney Deal", "Government sells remaining shares in Citigroup; investment to net $12 billion total profit for taxpayers", "U.S. gave up billions in tax money in deal for Citigroup's bailout repayment", "Citibank Opens Full-Service, Smart Banking Consumer Outlet at Chongqing Airport", "Citibank Japan Ltd. The agent name of this company is: C T CORPORATION SYSTEM , and company's status is listed as Active now. But Citibank knows the bank as an institution is in troubleit can't get away anymore with passive sellingand Plumeri has all the passion to throw a glass of cold water on the bank. Citigroup CEO Charles Prince signed a certification that the bank was in compliance with SOX despite Bowen revealing this wasn't so. [113] As a result of the criticism and the U.S. Government's majority holding of Citigroup's common stock, compensation and bonuses were restricted from February 2009 until December 2010. [52], City Bank of New York was chartered by New York State on June 16, 1812, with $2million of capital. [173], In August 2020, Citi mistakenly wired $900 million to the creditors of one of its clients, the American cosmetics corporation Revlon. Citi received the largest amount of TARP funding, "a larger bailout than any other U.S. Date: 19-Sep-2022. Fund Name Position direct/indirect start date end date; CITIGROUP GLOBAL MARKETS INC. 100% SHAREHOLDER: direct: 1998-09-01: SALOMON BROTHERS ASSET MANAGEMENT, LTD. Registered Address 388 GREENWICH STREET NEW YORK 10013 NY United States Previous Names Citigroup is a multinational financial services corporation with a presence in over 160 countries and territories around the world. New York, New York 10013 . While some speculated anonymously that the Federal Deposit Insurance Corporation (FDIC) would have been a particular focus of Hohlt's attention, Hohlt said he'd had no contact with the government insurance corporation. Registered Address 388 GREENWICH STREET NEW YORK 10013 It is a NY Corporation. [53] The company's name was changed to The National City Bank of New York in 1865 after it joined the new U.S. national banking system,[53] and it became the largest American bank by 1895. This included 738 employees each receiving $1 million in bonuses, 176 employees each receiving $2 million bonuses, 124 each receiving $3 million in bonuses, and 143 each receiving bonuses of $4 million to more than $10 million. [69] J. Paul Newsome, an analyst with CIBC Oppenheimer, said: "He's not the spit-and-polish executive many people expected. Citigroup Global Markets Inc. Company Profile | Chicago, IL | Competitors, Financials & Contacts - Dun & Bradstreet Find company research, competitor information, contact details & financial data for Citigroup Global Markets Inc. of Chicago, IL. The lawsuit was on behalf of investors who purchased certificates in one of two mortgage-backed securities trusts from Citigroup Mortgage Loan Trust Inc in 2007. Citigroup Global Markets Inc. filed as a Domestic Business Corporation in the State of New York on Wednesday, February 23, 1977 and is approximately forty-five years old, as recorded in documents filed with New York Department of State. In 2009, Japanese regulators again took action against Citibank Japan, because the bank had not set up an effective money laundering monitoring system. Former President, Chief Executive Officer, BMO Financial Corporation, and Former U.S. Country Head, BMO Financial Group, Former Senior Deputy Comptroller for Bank Supervision Policy and Chief National Bank Examiner, OCC. [69], In 2000, Citigroup acquired Associates First Capital Corporation for $31.1 billion in stock,[73] which, until 1989, had been owned by Gulf+Western (now part of National Amusements),[74] and later by Ford Motor Credit Company. Citigroup also decided to adopt the corporate brand "Citi" for itself and virtually all its subsidiaries, except Primerica and Banamex. CITIGROUP GLOBAL MARKETS REALTY CORP. Company Number 578611 Status Active Incorporation Date 30 August 1979 (over 43 years ago) Company Type DOMESTIC BUSINESS CORPORATION Jurisdiction New York (US) Controlling Company CITIGROUP INC. CITIGROUP GLOBAL MARKETS REALTY CORP. was registered on Sep 28, 2001 as a stock type company located at 388 GREENWICH STREET, NEW YORK, NY 10013 . 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. Rating History. 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". Telephone: 03-6776-8800. [162][163], In May 2015, the bank announced the sale of its margin foreign exchange business, including CitiFX Pro and TradeStream, to FXCM and SAXO Bank of Denmark. This firm has 7855 employees, of which 3324 are employees in advisory roles. Despite this deal, industry surveys pegged Citi as the biggest banking player in the forex market. [116] Citigroup will continue to operate as a single company for the time being, but Citi Holdings managers will be tasked to "take advantage of value-enhancing disposition and combination opportunities as they emerge",[116] and eventual spin-offs or mergers involving either operating unit were not ruled out. Personal Bank. Any compensation amount above $500,000 had to be paid with restricted stock that could not be sold by the employee until the emergency government aid was repaid in full. Citigroup was criticized for failing to adequately supervise its traders and for not having systems in place to detect spoofing, which involves entering fake orders designed to fool others into thinking prices are poised to rise or fall. Smith Barney, Citi's global private wealth management unit, provided brokerage, investment banking and asset management services to corporations, governments and individuals around the world. N.A/Citigroup Global Markets Inc. Steve Zepeda Communications Principal at Citigroup Global Markets Holdings Inc. Soo Yeon Lee . Businesses. Ethical Analysis of Citigroup 2022-11-07. [53][54] Serving a group of New York merchants, the bank opened for business on September 14 of that year,[citation needed] and Samuel Osgood was elected as the first President of the company. The report specifically stated that Citigroup failed "to project revenues and losses under a stressful scenario for material parts of the firm's global operations and its ability to develop scenarios for its internal stress testing that adequately reflects its full range business activities and exposures. [56] John S. Reed was elected CEO in 1984, and Citi became a founding member of the CHAPS clearing house in London. Citi opened additional branches in China, expanding its branch presence to 13 cities in China. Class of 1984 Senior Fellow and Fellow, Freeman Spogli Institute for International Studies and Dean Emeritus, NYU Leonard N. Stern School of Business. [164][165], In November 2015, Springleaf acquired OneMain Financial from Citigroup. [71][72] He unexpectedly retired from Citibank in January 2000. The Financial Crisis Inquiry Commission asked him to testify about Citigroup's role in the mortgage crisis, and he did so, appearing as one of the first witnesses before the Commission in April 2010. And it was certainly not written to prevent the government from selling its shares for a profit. Markets Operations Technology Delivery Lead. By July 2008 Citigroup was described as struggling,[100] and by November they were insolvent, despite their receipt of $25 billion in taxpayer-funded federal Troubled Asset Relief Program funds. [256], On March 21, 2018, it was announced that Citigroup changed its policy to forbid its business customers from performing certain firearm-related transactions. Fixed Income Strategy (2004-2005) and global head of Structured Credit Research and Strategy (2003-2005). [117] Citi Holdings consists of Citi businesses that Citi wants to sell and are not considered part of Citi's core businesses. [176], In April 2021, Citi announced it would exit its consumer banking operations in 13 markets, including Australia, Bahrain, China, India, Indonesia, South Korea, Malaysia, the Philippines, Poland, Russia, Taiwan, Thailand and Vietnam. [131] Late in 2010, the government sold its remaining stock holding in the company, yielding an overall net profit to taxpayers of $12 billion. It has shops and restaurants serving Metra customers via the Ogilvie Transportation Center. It was created in the wake of the financial crisis as part of Citi's restructuring plan. Today's call will be hosted by Jen Landis, Head of Citi Investor Relations. [170], In response to the COVID-19 pandemic, Citi provided support to cardholders including waiving late fees. The agent name for this entity is: C T CORPORATION SYSTEM. [144], By June 2012, the year of Citi's 200th anniversary, Citigroup had built up $420 billion in surplus cash reserves and government securities. [136], Citi Branded Cards introduced several new products in 2011, including: Citi ThankYou, Citi Executive/AAdvantage and Citi Simplicity cards in the U.S. This list only contains chairmen since the formation of Citigroup in 1998; for a full list of chairmen including Citigroup's predecessors, please see List of chairmen of Citigroup. Stock Exchange [122] Government restrictions on pay and oversight of the senior management were removed after the U.S. government sold its remaining 27% stake in December 2010. Presence to 13 cities in China, expanding its branch presence to 13 cities in China all subsidiaries. Restructuring plan any other U.S cardholders including waiving late fees from selling its shares for a profit # ;. 10013 it is a NY Corporation Citi businesses that Citi wants to sell and not. 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