Citi's leadership team comprises our Executive Management Team and Board of Directors. [115], On January 16, 2009, Citigroup announced its intention to reorganize itself into two operating units: Citicorp for its retail and institutional client business, and Citi Holdings for its brokerage and asset management. With the acquisition, the group became Travelers Inc. Property & casualty and life & annuities underwriting capabilities were added to the business. [131] Late in 2010, the government sold its remaining stock holding in the company, yielding an overall net profit to taxpayers of $12 billion. Global Presence. Citibank is also the first and currently the only international bank to be approved by Chinese regulators to issue credit cards under its own brand without cooperating with Chinese state-owned domestic banks. 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. It is a NY Corporation. [158][159][160][161], In October 2014, Citigroup announced its exit from consumer banking in 11 markets, including Costa Rica, El Salvador, Guatemala, Nicaragua, Panama, Peru, Japan, Guam, the Czech Republic, Egypt, South Korea (consumer finance only), and Hungary. Citigroup Global Markets jobs. [254], In 2010, the company named Edward Skyler, formerly in New York City government and at Bloomberg L.P., to its senior public and governmental relations position. The Directors present their strategic report on Citigroup Global Markets Limited (CGML or the Company) on a standalone basis for the year ended 31 December 2021. It consists of several business entities including remaining interests in local consumer lending such as OneMain Financial, divestitures such as Smith Barney, and a special asset pool. Citi, the leading global bank, serves more than 200 million customer accounts and does business in more than 160 countries and jurisdictions. bank. According to the article, former CEO Pandit said if Citigroup was allowed to unravel into bankruptcy, "100 governments around the world would be trying to figure out how to pay their employees". The company id for this entity is K835434. The remaining provisions of the GlassSteagall Actenacted following the Great Depressionforbade banks to merge with insurance underwriters, and meant Citigroup had between two and five years to divest any prohibited assets. 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. Is this your business? [65] This deal complemented Travelers/Smith Barney well as Salomon was focused on fixed-income and institutional clients, whereas Smith Barney was strong in equities and retail. 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. [192], In July 2010, Citigroup agreed to pay $75 million to settle civil charges that it misled investors over potential losses from high-risk mortgages. Chris Pompilio: Operating businesses include OneMain Financial ($10B), PrimeRe ($7B), MSSB JV ($8B) and Spain / Greece retail ($4B), less associated loan loss reserves. When Bowen first became a whistleblower in 2006, 60% of the mortgages were defective. Acadia Healthcare, Nine Directors Named in Securities Suit. [178] On March 1, 2022, Citi disclosed an exposure of over $10bn in Russian assets, which may be materially affected by Russia's expulsion from the SWIFT banking system. INCORPORATION DATE. 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. Anglo-American (viz. Banking. He oversaw its network of 450 branches. The salary of the CEO was set at $1 per year and the highest salary of employees was restricted to $500,000. In January 2017, bank regulators fined Citigroup $25 million on account of five traders from the bank having manipulated U.S. Treasury futures more than 2,500 times between July 2011 and December 2012. [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. [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. 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. [241], In 1998, the General Accounting Office issued a report critical of Citibank's handling of funds received from Raul Salinas de Gortari, brother of Carlos Salinas, the former president of Mexico. Find company research, competitor information, contact details & financial data for Citigroup Global Markets Inc. of Boston, MA. Profile People (0) Documents (0) Dockets (738) Attorneys (551) Markets (0) Patents (35) Trademarks (530) Payments (9) Related (222) Find Citigroup Global Markets Inc Managing Director Ed Morse Interview stock photos and editorial news pictures from Getty Images. [114], In 2009, Jane Fraser, the CEO of Citi Private Bank, stopped paying its bankers with a commission for selling investment products, in a move to bolster Citi Private Bank's reputation as an independent wealth management adviser, as opposed to a product pusher. Barbara Desoer Former Chief Executive Officer, Citibank, N.A. Main Business: Investment Banking, Sales & Trading, Research. Operations Solutions is undergoing one of the most dramatic and rapid infrastructure transformations in the Finance Industry. [172] This was not just limited to the US. Former Chief Executive Officer, Citibank, N.A. [2] It has 223,400 employees,[2] although it had 357,000 employees before the financial crisis of 20072008,[26] when it was bailed out by a massive stimulus package from the U.S. This settlement amount makes the NMS the second largest civil settlement in U.S. history, only trailing the Tobacco Master Settlement Agreement. Get the latest business insights from Dun & Bradstreet. [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. (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 . [251], In 2014 Citigroup's PAC contributed $804,000 to campaigns of various members of Congress, i.e. 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 [96], As the crisis began to unfold, Citigroup announced on April 11, 2007, that it would eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock. Other companies with agent name C T Corporation System . The same day on Wall Street markets responded, with shares falling and dropping the company's market capitalization to $6 billion, down from $300 billion two years prior. 383 Madison Avenue [56] The company organically entered the leasing and credit card sectors, and its introduction of U.S. dollar-denominated certificates of deposit in London marked the first new negotiable instrument in the market since 1888. Citigroup Global Markets Inc. September 12, 2003 Mr. Jonathan G. Katz, Secretary Securities and Exchange Commission 450 5 th Street, NW Washington, DC 20549 Re: SR-BSE-2002-15 and amendments thereto. Citibank's PAC made donations to both the campaigns and the leadership PACs of many top Democrats who voted for the 2015 spending bill, including Steny Hoyer (Md.) John C. Dugan Chair, Citigroup Inc. Jane Fraser Chief Executive Officer. c/o J.P. Morgan Securities LLC . Issuer: Citigroup Global Markets Holdings Inc. Debt Level: senior unsecured Issue: senior unsecured commercial paper 19-Sep-2022 F1 Affirmed Short Term Rating Rating History Country: United States Sectors: Banks Disclosures: EU Endorsed, UK Endorsed; Solicited by or on behalf of the issuer (sell side) senior unsecured; commercial paper It has been registered with the SEC as an adviser since 2003 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 48 other states. Please be advised that this site is not optimized for use with Microsoft Internet Explorer 6. The company had used elaborate mathematical risk models which looked at mortgages in particular geographical areas, but never included the possibility of a national housing downturn or the prospect that millions of mortgage holders would default on their mortgages. 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. 162 members of the House, including 72 Democrats, where donations averaged about $5,000 per candidate. [56] John S. Reed was elected CEO in 1984, and Citi became a founding member of the CHAPS clearing house in London. [191], On June 6, 2007, FInRA announced more than $15million in fines and restitution against Citigroup Global Markets, Inc., to settle charges related to misleading documents and inadequate disclosure in retirement seminars and meetings for BellSouth Corp. employees in North Carolina and South Carolina. RHO VENTURESAnalyst 2000 - 2001. Markets Operations Technology Delivery Lead. 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). From 1989 to 2006, members of the firm donated over $23,033,490, 49% of which went to Democrats and 51% of which went to Republicans. [182] Citigroup also owns a building in Tribeca, Manhattan at 388 Greenwich Street that serves as headquarters for its Investment and Corporate Banking operations and was the former headquarters of the Travelers Group. Detailed company description & address for Citigroup Capital XIII TruPS Fixed/Fltg. Citigroup was replaced by Travelers Co.[124][125]. Citigroup is a multinational financial services corporation with a presence in over 160 countries and territories around the world. [190], On March 23, 2005, the National Association of Securities Dealers, the former name of the American self-regulatory organization for broker-dealers, now known as the Financial Industry Regulatory Authority (FInRA) announced total fines of $21.25 million against Citigroup Global Markets, Inc., American Express Financial Advisors and Chase Investment Services regarding suitability and supervisory violations of their mutual fund sales practices between January 2002 and July 2003. [171] It also announced that some lower paid employees would receive a one-off payment of US$1,000 to help them through the crisis. Existing shareholders of each company owned about half of the new firm. Fixed Income Strategy (2004-2005) and global head of Structured Credit Research and Strategy (2003-2005). Citigroup eventually stripped Bowen of most of his responsibilities and informed him that his physical presence was no longer required at the bank. So Why Don't More American Men Take It? Date: 19-Sep-2022. Markets Treasury Trader - C15, Director, Global Markets. [83][84][85], The company spun off its Travelers Property and Casualty insurance underwriting business in 2002. 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.