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Citigroup |
| Citigroup Inc is popularly also referred to as Citi and is based in New York City. It is one of the largest financial services organizations in the world and the merger between Citicorp and Travelers Group way back in the late 90's only proved to be a step in the right direction. Citigroup is proud of its association with over 100 countries from all over the world where it has its representation as a part of a large multinational banking corporation. |
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History of Citigroup:
The history of Citigroup can broadly be classified according to the history of Citicorp and Travelers Group.
Bank of New York was founded in the year 1812 that later combined with the US national banking system and soon went on to become the largest commercial bank in the world. |
The name of the bank was changed to First National City Bank in 1962 and then to Citibank (also Citicorp) thereby also marking the launch of the 24 hr ATM cards for its customers. MasterCard, the popular Credit Card was also introduced by this bank that created nothing short of a revolution in the banking industry of that era. The reach of the Citibank continued to grow and made its presence felt in more than 90 countries from all over the world. Travelers Group on the other hand was a union of several financial institutions that united over a period of time to become one of the major players in the industry.
The merger between the 2 institutions in the year 1998 saw a brand being created that dealt in a variety of financial services including insurance and mutual funds other than a host of other features. The 3 chief groups that together complete the brand are:
Global Consumer Group
Citi Cards, Citi Financial and Citibank
Global Wealth Management
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