Guy T. Logan Managing Director and Co-Head. Visit Citigroup Global Markets Inc. * The Chief of Staff is a direct report to the CEO but not a member of the Executive Management Team. [22][23] Citigroup owns Citicorp, the holding company for Citibank, as well as several international subsidiaries. [253], In 2009, former chairman Richard Parsons hired long-time Washington, D.C. lobbyist Richard F. Hohlt to advise him and the company about relations with the U.S. government, though not to lobby for the company. 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. Many of the mortgages were not only defective but were a result of mortgage fraud. The subsequent investigation revealed that the Consumer Lending Group had suffered a breakdown of internal controls since 2005. View a list of all our leaders and read their profiles. CITIGROUP GLOBAL MARKETS INC. was registered on Sep 25 1998 as a foreign profit corporation type with the address 388 GREENWICH ST, NEW YORK, NY, 10013, USA. In 2012, the company paid $590 million to settle the case.[219][220]. Citi's Institutional Clients Group (ICG) offers investment and corporate banking services and products for companies, governments, institutions, and ultra high-net-worth investors. [56][58][59][61], Credit cards at this time had an annual fee,[62] which they raised more than once.[63]. [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. Find more info on AllPeople about Michael Meeuwsen and Citigroup Global Markets Inc, as well as people who work for similar businesses nearby, colleagues for other branches, and more people with a similar name. Other companies with agent name C T Corporation System . On April 6, 1998, the merger between Citicorp and Travelers Group was announced to the world, creating a $140 billion firm with assets of almost $700 billion. Citigroup Global Markets Japan Inc. In November 1997, Travelers Group (which had been renamed again in April 1995 when they merged with Aetna Property and Casualty, Inc.), acquired Salomon Brothers, a major bond dealer and bulge bracket investment bank, in a $9 billion transaction. 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. 383 Madison Avenue 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. Profile People (0) Documents (0) Dockets (738) Attorneys (551) Markets (0) Patents (35) Trademarks (530) Payments (9) Related (222) Shareholder: Citigroup Japan Holdings G.K. (wholly owned by Citigroup Inc. indirectly) Paid-in Capital: 154.9 billion . 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. C.PRN - key executives, insider trading, ownership, revenue and average growth rates. Is this your business? Key Principal: James Forese See more contacts Industry: Security brokers and dealers , Brokers, security , Dealers, security , Investment bankers , Commodity brokers, contracts See All Industries Printer Friendly View Address: 388 Greenwich St FL 18 New York, NY, 10013-2362 United States See other locations Phone: Website: www.citigroup.com New York, NY As Director, ICG Operations, and Technology Control and Reporting (2013-Present): Lead business planning . The company's history dates back to the founding of: the City Bank of New York (later Citibank) in 1812; Bank Handlowy in 1870; Smith Barney in 1873, Banamex in 1884; Salomon Brothers in 1910. In 2009, Japanese regulators again took action against Citibank Japan, because the bank had not set up an effective money laundering monitoring system. [27], In 2020 it was one of the largest securities services providers, having over $23.6 trillion in assets under custody (AUC) [28], In February 2021 CEO Michael Corbat was replaced by Jane Fraser, who became the first woman CEO of a Big Four bank. Attorney General Eric H. Holder Jr. said "The bank's misconduct was egregious. Citigroup Inc. or Citi (stylized as citi) is an American multinational investment bank and financial services corporation headquartered in New York City. This settlement amount makes the NMS the second largest civil settlement in U.S. history, only trailing the Tobacco Master Settlement Agreement. This page was last edited on 18 January 2023, at 09:21. By December 2010, Citigroup repaid the emergency aid in full and the U.S. government had made a $12 billion profit on its investment in the company. [83][84][85], The company spun off its Travelers Property and Casualty insurance underwriting business in 2002. The Citigroup managing director list 2021 BCMA: Banking, Capital Markets and Advisory CSIS: Citi Security and Investigative Services EO&T: Enterprise Operations & Technology GCB: Global Consumer Bank ICG: Institutional Clients Group ICRM: Independent Compliance Risk Management O&T: Operations & Technology TTS: Treasury and Trade Solutions [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. 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. Since then, they have been a part of an enormously influential coterie of advisers"; Howard Wolfson, the former communications director for Hillary Clinton's presidential campaign and Mr. Bloomberg's re-election bid; and Gary Ginsberg, now at Time Warner and formerly at News Corporation. [22] Indeed, the passing of the Gramm-Leach-Bliley Act in November 1999 vindicated Reed and Weill's views, opening the door to financial services conglomerates offering a mix of commercial banking, investment banking, insurance underwriting, and brokerage. As a result, late in the evening on November 23, 2008, Citigroup and Federal regulators approved a plan to stabilize the company and forestall a further deterioration in the company's value. Operator: Hello and welcome to Citi's Fourth Quarter 2022 Earnings Review with the Chief Executive Officer, Jane Fraser; and Chief Financial Officer, Mark Mason. (Reuters) - Citigroup Inc is boosting compensation for most of its junior bankers by as much as 15%, Bloomberg News reported on Wednesday, highlighting the talent war on Wall Street even amid . Citigroup Global Markets Inc is legally known as CITIGROUP GLOBAL MARKETS INC.. As a broker-dealer, CGMI offers clients access to the global markets in more than 100 countries. [60], In 1974, under the leadership of CEO Walter B. Wriston, First National City Corporation changed its formal name to "Citicorp", with First National City Bank being formally renamed Citibank in 1976. It serves 1370 clients. 01763297. Sign in to add some. The bank had been nicknamed "Citibank" since the 1860s when it began using this as an eight-letter wire code address. Anglo-American (viz. [97] Even after securities and brokerage firm Bear Stearns ran into serious trouble in summer 2007, Citigroup decided the possibility of trouble with its CDOs was so tiny (less than 1/100 of 1%) that they excluded them from their risk analysis. The majority of its assets are U.S. mortgages. [citation needed] The 1918 purchase of U.S. overseas bank International Banking Corporation helped it become the first American bank to surpass $1 billion in assets. Acadia Healthcare, Nine Directors Named in Securities Suit. Citigroup is incorporated in Delaware. New York, New York 10019 . While we're a global bank, our mission is simple: We responsibly provide financial services that enable growth and economic progress. Citi received $2.7 billion and a 49% interest in the joint venture. Six drivers and other economic measurements, such as income and savings rates were also studied and included, in what was described as "an ongoing [bio-]technological revolution; capitalist-friendly governments and tax regimes" Insider Monkey Transcripts. [196], In February 2012, Citigroup agreed to pay $158.3 million to settle claims that it falsely certified the quality of loans issued by its CitiMortgage unit over a period of more than six years, so that they would qualify for insurance from the Federal Housing Administration. While Citi Holdings is a mixed bag, its primary objective is to wind down some non-core businesses and reduce assets, and strategically "breaking even" in 2015. [195], In August 2012, Citigroup agreed to pay almost $25 million to settle an investor lawsuit alleging the bank misled investors about the nature of mortgage-backed securities. This website uses cookies to give you the best user experience by personalizing your content and analyzing traffic. As Representatives of the several Underwriters named in Schedule I hereto, c/o BNP Paribas Securities Corp. 787 Seventh Avenue . Citigroup CEO Charles Prince signed a certification that the bank was in compliance with SOX despite Bowen revealing this wasn't so. Its headquarters are located in the Shin-Marunouchi Building in Otemachi, Chiyoda, Tokyo. Company status Active Company type Private limited Company Incorporated on 21 October 1983 . Of the 57 Democrats supporting the 2015 Spending bill, 34 had received campaign cash from Citigroup's PAC at some point since 2010. The operations sold include 27 branches serving approximately 250,000 clients. ", "The effect of own and spousal parental leave on earnings", El Pas: Citi traslada a Madrid su ncleo de banca privada del sur de Europa por el Brexit - Pablo Martn Simn, 16 March 2020, "Wall Street's Omnibus Triumph, and Others", "Mayor Bloomberg deputy Edward Skyler says so long to City Hall", "Another Exit From Bloomberg's Inner Circle", "Citigroup Sets Restrictions on Gun Sales by Business Partners", "Citi Foundation to Provide $15 Million to Support COVID-19 Related Relief Efforts Globally", "25 People to Blame for the Financial Crisis", "Citigroup chief stays bullish on buy-outs", "Citigroup chief compliance officer Mark Carawan retires", https://en.wikipedia.org/w/index.php?title=Citigroup&oldid=1134364968, Acciones y Valores de Mxico (Acciones y Valores Banamex, Casa de Bolsa Integrante del Grupo Financiero Banamex), Citigroup Global Markets, Inc., Citigroup Global Markets Limited (UK), and. [256], On March 21, 2018, it was announced that Citigroup changed its policy to forbid its business customers from performing certain firearm-related transactions. [144], By June 2012, the year of Citi's 200th anniversary, Citigroup had built up $420 billion in surplus cash reserves and government securities. The U.S. The chairmen of both parent companies, John S. Reed and Sandy Weill respectively, were announced as co-chairmen and co-CEOs of the new company, Citigroup, Inc., although the vast difference in management styles between the two immediately presented question marks over the wisdom of such a setup. [75] The Associates was widely criticized for predatory lending practices and Citi eventually settled with the Federal Trade Commission by agreeing to pay $240million to customers who had been victims of a variety of predatory practices, including "flipping" mortgages, "packing" mortgages with optional credit insurance, and deceptive marketing practices. 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