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Citigroup Company profile

Citigroup (C) or Citi is a global diversified financial service company based in New York. It provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services, and wealth management. 

The company’s history dates back to 1812 with the establishment of City Bank of New York. The group was established by the merger of Citicorp and financial conglomerate Travelers Group in 1998. Citi has approximately 200 million customer accounts and operates in over 160 countries since its inception.

As of 31 December 2021, Citigroup was divided into two operating segments: Institutional Clients Group (ICG) and Global Consumer Banking (GCB), with the remainder of operations falling under Corporate/Other.

ICG includes Banking and Markets and securities services. The segment provides wholesale banking products and services including fixed income and equity sales and trading, foreign exchange, prime brokerage, derivative services, equity and fixed income research, and corporate lending, as well as investment banking and advisory services, private banking, cash management, trade finance and securities services. 

The GCB segment provides traditional banking services to retail customers through retail banking and branded cards. It consists of consumer banking businesses in North America, Latin America and Asia. 

Citi announced in 2021 that as part of its strategic refresh, it will concentrate its consumer banking business in Asia and EMEA (Europe, Middle East and Africa) in four locations: Singapore, Hong Kong, the United Arab Emirates (UAE) and London.

Citi will exit its consumer franchises in 13 markets across the two regions in 2021 and early 2022. Furthermore, in January 2022, Citi announced its intention to exit Citibanamex’s consumer, small business and middle market banking operations.

Corporate/Other covers all activities that are not assigned in ICG and GCB. It includes certain unallocated costs of global staff functions (including finance, risk, human resources, legal and compliance), other corporate expenses, unallocated global operations and technology expenses, and income taxes, as well as Corporate Treasury results, certain North America legacy consumer loan portfolios, discontinued operations, and other legacy assets.

Citigroup shares are traded at the New York Stock Exchange under the ticker symbol C.

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