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. Investment Adviser Firm Summary CITIGROUP GLOBAL MARKETS INC. ( CRD # 7059/SEC#:801-3387,8-8177 ) Show All 35 CAPITAL MANAGEMENT DIVISION, TRAK FOR MUTUAL FUND AT NET ASSET VALUE, TRAK FOR CONSULTING GROUP CAPITAL MARKETS FUNDS, SSB COLLECTIVE FUNDS ASSET ALLOCATION SERVICE, SMITH BARNEY, HARRIS UPHAM & CO., INCORPORATED [102] Its stock market value dropped to $20.5 billion, down from $244billion two years earlier. [155], On June 23, 2016, Federal Reserve handed Citi a passing grade on its stress test the second time in a row, giving permission to triple its dividend to 16 cents a share and approving an $8.6 billion stock repurchase program,[156], Citi Capital Advisors (CCA), formerly Citi Alternative Investments, was a hedge fund that offered various investment strategies across multiple asset classes. Under his leadership, the next 14 years would see Citibank become the largest bank in the United States and the largest issuer of credit cards and charge cards in the world, and expand its global reach to over 90 countries. Aprs le succs public (plus de 563 000. [56][58][59][61], Credit cards at this time had an annual fee,[62] which they raised more than once.[63]. In September 1992, Travelers Insurance, which had suffered from poor real estate investments[22] and sustained significant losses in the aftermath of Hurricane Andrew,[64] formed a strategic alliance with Primerica that would lead to its amalgamation into a single company in December 1993. Citigroup reported revenues of $18.01 billion in the last reported quarter, representing a year-over-year change of +5.8%. Get the latest business insights from Dun & Bradstreet. A joint statement by the US Treasury Department, the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) announced: "With these transactions, the U.S. government is taking the actions necessary to strengthen the financial system and protect U.S. taxpayers and the U.S. Operations Solutions is undergoing one of the most dramatic and rapid infrastructure transformations in the Finance Industry. Today's call will be hosted by Jen Landis, Head of Citi Investor Relations. 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. Citigroup is the third largest banking institution in the United States; alongside JPMorgan Chase, Bank of America, and Wells Fargo, it is one of the Big Four banking institutions of the United States. Citi's leadership team comprises our Executive Management Team and Board of Directors. Citigroup Global Markets has 11 current employee profiles, including Chairman and Chief Executive Officer James Forese. Markets Operations Technology Delivery Lead. 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[242][243], Between 1998 and 2014, Citigroup spent nearly $100 million lobbying the federal government. RHO VENTURESAnalyst 2000 - 2001. Then on the board of directors of Citigroup, Rubin and Charles Prince were said to be influential in pushing the company towards MBS and CDOs in the subprime mortgage market. [89][90] Citigroup retained the life insurance and annuities underwriting businesses until it sold them to MetLife in 2005. [25] Citigroup has approximately 200 million customer accounts and does business in more than 160 countries. View a list of all our leaders and read their profiles. March 20, 2018 Acadia Healthcare Company, Inc., nine individual directors, and Citigroup Global Markets Inc. are facing a proposed class action alleging the defendants misled investors regarding Acadia's business operations and financial prospects. [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. As a result of their assurances that toxic financial products were sound, Citigroup was able to expand its market share and increase profits" and that "the settlement did not absolve the bank or its employees from facing criminal charges. Short Term Issuer Default Rating. Citigroup, Inc. New York, NY. EPS of $1.10 for the same period compares with $1.46 a year ago. This firm has 7855 employees, of which 3324 are employees in advisory roles. 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. 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. Citi received $2.7 billion and a 49% interest in the joint venture. CITIGROUP GLOBAL MARKETS LIMITED Company number 01763297 Follow this company File for this company Overview Filing history People Charges More Officers Persons with significant control Filter. [214][215] In 2008, Citi also agreed to pay $1.66 billion to Enron creditors. The majority of its assets are U.S. mortgages. [132] A special IRS tax exception given to Citi allowed the US Treasury to sell its shares at a profit, while it still owned Citigroup shares, which eventually netted $12 billion. Shareholder: Citigroup Japan Holdings G.K. (wholly owned by Citigroup Inc. indirectly) Paid-in Capital: 154.9 billion . [147], In 2013, Sanjiv Das was replaced as head of CitiMortgage with Jane Fraser, former head of Citi Private Bank. Citi received the largest amount of TARP funding, "a larger bailout than any other U.S. Citigroup Global Markets Inc. has been operating for 24 years 0 months, and 2 days. Of the 57 Democrats supporting the 2015 Spending bill, 34 had received campaign cash from Citigroup's PAC at some point since 2010. In October 2007, Citigroup purchased Nikko Cordial Corporation. ARVIND RAJAN, PHD, is a Managing Director at Citigroup, where he engages in proprietary trading of credit, structured credit, and emerging markets. 01763297. Citi Markets provides world-class products and financing solutions for corporations, governments, and institutional and retail investors through our dominant underwriting, sales and trading, and distribution capabilities. Other companies with agent name C T Corporation System . Chief Executive Officer | Personal Banking & Wealth Management, Executive Vice President | Enterprise Services and Public Affairs, Head of Enterprise Infrastructure Operations & Technology, Chief Executive Officer | Institutional Clients Group, Former President and CEO, BMO Financial Corporation | Former U.S. Country Head, BMO Financial Group, Former Senior Deputy Comptroller for Bank Supervision Policy and Chief National Bank Examiner, Office of the Comptroller of the Currency (OCC). According to Treasury spokeswoman Nayyera Haq, "This (IRS tax) rule was designed to stop corporate raiders from using loss corporations to evade taxes and was never intended to address the unprecedented situation where the government owned shares in banks. Date: 19-Sep-2022. Leadership. [189], In 2004, Japanese regulators took action against Citibank Japan loaning to a customer involved in stock manipulation. 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 Global Markets Inc - Company Profile and News - Bloomberg Markets Bloomberg Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg. Grace E. Dailey Former Senior Deputy Comptroller for Bank Supervision Policy and Chief National Bank Examiner, OCC. Ajay Kapur, Niall Macleod, and Narendra Singh (2005): "Plutonomy: Buying Luxury, Explaining Global Imbalances". [83][84][85], The company spun off its Travelers Property and Casualty insurance underwriting business in 2002. [71][72] He unexpectedly retired from Citibank in January 2000. Anglo-American (viz. 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. [29], Citigroup is the holding company for the following divisions:[30], 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. [253] Citigroup's 2014 donations favored Republicans only slightly. The policy doesn't affect clients who offer credit cards backed by Citigroup or borrow money, use banking services, or raise capital through the company. Class of 1984 Senior Fellow and Fellow, Freeman Spogli Institute for International Studies and Dean Emeritus, NYU Leonard N. Stern School of Business, Former Assistant Secretary for Intelligence and Analysis, U.S. Department of the Treasury, Former President and Group Chief Executive Officer, Nordea Bank Abp, Former Superintendent of Banks, State of New York, Head of Enterprise Operations & Technology. To the Stockholder and the Board of Directors Citigroup Global Markets Inc.: Opinion on the Consolidated Financial Statement . 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. [94][95] As Treasury Secretary, Robert Rubin was said to be influential in lifting the GlassSteagall Act that allowed Travelers and Citicorp to merge in 1998. There are 3 director records in this entity. In 2018, they began building a new headquarters that will be 150,000 square feet of office space on a 19-acre campus. In Singapore where Citi had a large operation, low paid staff would receive S$1,200. Travelers Group, at the time of the merger, was a diverse group of financial concerns that had been brought together under CEO Sandy Weill. Long Term Issuer Default Rating. government. [148], On March 26, 2014, the Federal Reserve Board of Governors reported that Citigroup was one of the 5 financial institutions that failed its stress tests. [183], 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 M trains. Citi will continue to operate its consumer banking businesses in the USA, Canada, Europe and in only 4 other markets: Hong Kong, Singapore, London and the UAE across the entire APAC and EMEA regions. [249] As of 2008, Citigroup was the 16th largest political campaign contributor in the US, out of all organizations, according to OpenSecrets. Many of the mortgages were not only defective but were a result of mortgage fraud. It also has Latin America partnership cards with Colombia-based airline Avianca and with Banamex and AeroMexico; and a merchant loyalty program in Europe. 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