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[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. Chief Executive Officer | Legacy Franchises. Citigroup is the holding company for the following divisions: Citigroup Global Markets, Inc., Citigroup Global Markets Limited (UK), and Citigroup Global Markets Japan - broker-dealers, including one of 24 primary dealers in United States Treasury securities.. Citi's Institutional Clients Group (ICG) offers investment and corporate banking services and products for companies, governments . [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. 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). Citigroup Global Markets Japan Inc. 383 Madison Avenue Stanford Univ. 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. "[133], In 2011, Citi was the first bank to introduce digitized Smart Banking branches in Washington, D.C., New York, Tokyo and Busan (South Korea) while it continued renovating its entire branch network. Contact Information Formerly Known As Salomon Smith Barney Ownership Status Privately Held (backing) Financing Status Corporate Backed or Acquired Primary Industry Brokerage Other Industries Investment Banks [83][84][85], The company spun off its Travelers Property and Casualty insurance underwriting business in 2002. Ethical Analysis of Citigroup 2022-11-07. Of the 57 Democrats supporting the 2015 Spending bill, 34 had received campaign cash from Citigroup's PAC at some point since 2010. [22] The deal would enable Travelers to market mutual funds and insurance to Citicorp's retail customers while giving the banking divisions access to an expanded client base of investors and insurance buyers. Bowen attempted to rouse the board via weekly reports and other communications. In 2009, Japanese regulators again took action against Citibank Japan, because the bank had not set up an effective money laundering monitoring system. In particular, their credit card policies were set to restrict the sale of guns below age 21. [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. On November 24, 2008, the U.S. government announced a massive bailout for Citigroup designed to rescue the company from bankruptcy while giving the government a major say in its operations. The "New York" was dropped in 1962 on the 150th anniversary of the company's foundation. It reported $10.6 billion in net profit, compared with a $1.6 billion loss in 2009. CITIGROUP FINANCIAL PRODUCTS INC. 100% SHAREHOLDER ARNOLD, EDWARD RAYMOND (CRD#:1876464) CHIEF COMPLIANCE OFFICER - EQUITIES AND EQUITIES DERIVATIVES CHATTERJEE, BISWARUP (CRD#:3102524) DIRECTOR CHATTERJEE, BISWARUP (CRD#:3102524) CEO/CHAIRMAN/PRESIDENT CHIRICO, JOHN A (CRD#:2916366) DIRECTOR DHOUIBI, STEPHANIE ANISSA (CRD#:7189271) DIRECTOR [200] The five banks were also required to comply with 305 new mortgage servicing standards. 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. Liked by Maxime Hennequet. [56][58][59][61], Credit cards at this time had an annual fee,[62] which they raised more than once.[63]. Acadia Healthcare, Nine Directors Named in Securities Suit. "[107] The bailout called for the government to back about $306 billion in loans and securities and directly invest about $20 billion in the company. [202][203], In January 2017, Citigroup Global Markets Inc. was fined $25 million by the Commodity Futures Trading Commission for order spoofing in U.S. Treasury futures markets, i.e., placing orders that were intended to be canceled before execution, and for failing to diligently supervise its employees with regard to spoofing. In 2005, Citigroup paid $75 million to settle the lawsuit. Shareholder: Citigroup Japan Holdings G.K. (wholly owned by Citigroup Inc. indirectly) Paid-in Capital: 154.9 billion . Citigroup Global Markets Inc. branch Company Number 1998-000337922 Status Active Incorporation Date 28 September 1998 (about 24 years ago) Company Type Profit Corporation Jurisdiction Wyoming (US) Branch Branch of CITIGROUP GLOBAL MARKETS INC. (New York (US)) Controlling Company CITIGROUP INC. [56] John S. Reed was elected CEO in 1984, and Citi became a founding member of the CHAPS clearing house in London. [52], City Bank of New York was chartered by New York State on June 16, 1812, with $2million of capital. Today's call will be hosted by Jen Landis, Head of Citi Investor Relations. Duncan P. Hennes Co-Founder and Partner of Atrevida Partners, LLC. For other uses, see, Ownership of Salomon Brothers (19972003), Merger of Citicorp and Travelers (19982001), Collapse and US government intervention (2008), Return to profitability, denationalization (2010), Expansion of retail banking operations (2011), Expansion of credit card operations (2011), Chinese investment banking joint venture (2012), Spin-off of Napier Park Global Capital (2013), Downsizing of consumer banking unit (2014), Combination of Markets & Securities Services (2019), Shrinking of consumer banking unit (20212022), Involvement in controlling the sale of guns, Regulatory action, lawsuits, and arbitration, Enron, WorldCom, and Global Crossing bankruptcies, Conflicts of interest on investment research, Citigroup proprietary government bond trading scandal of 2004, Accusations of futures market manipulation. 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. 01763297. The agent name for this entity is: C T CORPORATION SYSTEM. [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 was replaced by Travelers Co.[124][125]. [118], On February 27, 2009, Citigroup announced that the U.S. government would take a 36% equity stake in the company by converting US$25 billion in emergency aid into common stock with a United States Treasury credit line of $45 billion to prevent the bankruptcy of the company. [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. The agent name of this company is: C T CORPORATION SYSTEM , and company's status is listed as Active now. 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. Along with trading and underwriting securities, CGM also finances business deals. The case against Citigroup involved recommendations and sales of Class B and Class C shares of mutual funds. The Salomon Smith Barney name was abandoned in October 2003 after a series of financial scandals that tarnished the bank's reputation.[66]. 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. Co-Founder and Partner of Atrevida Partners, LLC. Profile People (0) Documents (0) Dockets (738) Attorneys (551) Markets (0) Patents (35) Trademarks (530) Payments (9) Related (222) Consequently, the company's Midtown buildingsincluding 787 Seventh Avenue, 666 Fifth Avenue, 399 Park Avenue, 485 Lexington, 153 East 53rd Street (Citigroup Center) in Manhattan, and One Court Square in Long Island City, Queens, are all on the short four-stop corridor of the Queens Boulevard Line between Court Square and Seventh Avenue. [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. 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