Citigroup Company Research Report

About the Company

Citigroup Inc, famous as Citi, is one of the biggest multinational American Financial services and Investment bank corporations. On 8 October 1988, it was the merger of Citicorp and Travelers Group, that gave birth to Citigroup Inc. It is incorporated in Delaware and has its headquarter in New York City. Among all the banking institutions in the United States, Citi is the third largest. In the bulge bracket, the corporation is one of the nine international investment banks. It serves worldwide and is traded as :

• NYSE: C
• Component S&P 100 and S&P 500

It deals with wealth management, risk management, private equity, mutual funds, mortgage loans, investment management, insurance, equities trading, credit cards, banking commodities, and asset management. As of 2020, there are 2,10,000 employees in Citgroup Inc. The mission of the firm is “They responsibly provide financial services that enable growth and economic progress.”

Key People and Management Team of Citi

• Peter Babej, CEO Asia Pacific
• Jane Fraser, CEO Citi
• Sunil Garg, CEO CitiBank 
• David Livingstone, CEO Europe, Middle East, and Africa
• Mark Manson, CFO, Citi
• Mary McNiff, Chief Compliance Officer
• Karen Petz, Chief Administrative Officer
• Margo Pilic, Chief of Staff
• Jessica Roos, Chief Editor
• Anand Selva, CEO, Global Consumer Bank
• Edward Skyler, Executive Vice President, Global Public Affairs
• Ernesto Torres Cantu, CEO, Latin America
• Zdenek Turek, Chief Risk Officer
• Sara Wetcher, Head of Human Resources
• Rohan Weerasinghe, General Counsel, and Corporate Affairs
• Mike Whitaker, Head of Enterprise Operations and Technology
• Paco Ybarra, CEO Institutional Clients Group
• John C. Dugan, Chairman
• Jane Fraser, President, and CEO

Locations of Citi

CitiGroup has its presence all over the world. Here is a list of countries where the corporations have their presence:

1. Asia Pacific: Australia, Vietnam, Thailand, Taiwan, Srilanka, Singapore, Philippines, New Zealand, Mauritius, Malaysia, Macau SAR, Korea, India, Japan, Indonesia, China, Bangladesh, Hong Kong SAR
2. Europe, Middle East, and Africa: Zambia, United Kingdom, United Arab Emirates, Ukraine, Uganda, Turkey, Tunisia, Tanzania, Switzerland, Sweden, Spain, South Africa, Slovakia, Senegal, Saudi Arabia, Russia, Romania, Qatar, Portugal, Poland, Pakistan, Norway, Nigeria, Netherlands, Morocco, Monaco, Luxembourg, Lebanon, Kuwait, Kenya, Kazakhstan, Jordan, Jersey, Coast, Ivory, Italy, Israel, Ireland, Iraq, Hungary, Greece, Germany, Gabon, France, Finland, Egypt, Denmark, Czech Republic, Congo(DRC), Cameroon, Bulgaria, Belgium, Bahrain, Austria, Algeria
3. Latin America: Uruguay, Venezuela, Puerto Rico, Trinidad and Tobago, Peru, Panama, Paraguay, Mexico, Honduras,  Jamaica, Haiti, El Salvador, Guatemala, Dominican Republic, Ecuador, Costa Rica, Chile, Colombia, Bahamas, Brazil, Argentina
4. North America: the U.S.A and Canada

Subsidiaries of Citi Group Inc

• Banamex– The 2nd largest bank in Mexico which was bought by Citigroup in 2001.
• Citibank Berhad– It is a commercial bank that is licensed and operates in Malaysia, with its headquarter in Kuala Lumpur.
• Citibank India– This subsidiary of Citigroup is a commercial bank that operates in India.
• CitiBank Australia– A commercial bank that operates in Australia and whose parent company is Citigroup.
• Citibank Hong Kong– It is a licensed incorporated bank in Hongkong, founded in 1902.
• Citicorp LLC– This subsidiary of Citigroup provides banking services like e-banking, commercial lending, cash management, investments, checking accounts, mortgages, cards, savings, etc.
• CitiFinancial Europe PLC- This financial services firm is based at Citigroup Centre Canada Square Canary Wharf, London.
• Citibank Canada– It is part of Citi Bank that operates in Canada and has its headquarter in Toronto.
• Citibank Global Consumer Banking Singapore– It is a division of Citibank N.A that operates in Singapore since 1999.
• Citibank Russia– Founded in 1993, this corporation is a part of Citigroup.
• Citibank Europe- This financial services corporation has its headquarter in the Republic of Ireland and was founded back in 1902.
• Citigroup Global Market Japan– It is a wholly-owned subsidiary of Citigroup Japan Holdings Corp., the main Japanese holding company of Citigroup.
• Citibank Korea- It is a South Korean subsidiary of Citigroup.
• Citi Private Bank- This subsidiary advises ultra-high-net-worth families and individuals, professional investors, and lawyers globally. To provide its clients with international investment opportunities it uses over 800 investment professionals and private bankers architecture networks across 46 jurisdictions and countries. 
• Ness Digital Engineering– It is an IT service provider based out of Israel.
• Institutional Clients Group- ICG offers corporate and investment banking products & services for institutions, government, companies.
• Citigroup Global Markets Deutschland AG and CO KGAA– It is the investment and corporate bank of Citi group that operates in Germany and has its headquarter in Frankfurt.
• CitiMortgage Inc. – This subsidiary provides investment and refinancing products globally.
• Nikko Asset Management Co. Ltd- This investment management firm provides asset management and investment advisory services.
• Primerica Shareholders Service- It provides financial, investment and insurance services to families in Canada and the US who have middle income.
• Intcomex, inc. – It distributes digital consumer electronics, networking products, accessories, computer systems, software, peripherals, components, and computer equipment in more than 45 countries to 40,00 local clients.
• Citibank Taiwan Ltd–  It is a part of Citigroup that is into financial service and banking in Taiwan.
• Citibank China- It is one of the international banks that incorporated in mainland China locally in 2007.
• Salomon Brothers International LTD- In 2003, this firm changed its name to Citigroup Global Market Limited and continued to trade & act as a gilt-edge market maker.
• Department Stores National Bank- DSNB is the visa credit card issuer and retail private label accounts for Citibank’s relationship with Macy’s, Inc.
• Erico International Corporation- The parent company of this engineered fastening and electrical products manufacturer is Citigroup and before that, it was under nVent Electrics.
• Citigroup Pty Ltd– This financial banking and services corporation is a part of Citigroup but incorporated in Australia.
• Metalmark Capital- This private equity firm was earlier owned by Morgan Stanley and was known as Morgan Stanley Capital Partners. It focuses on leveraged buy-out investment in middle-market firms across different industries.
• Citibank Espana SA- It is a part of Citigroup that operates in Spain since 1919.
• Banco Nacional de Mexico- This bank was acquired by Citigroup from Banamex and operates in Mexico.
• Citibank Chile- Citigroup has had its presence in chile since 1919 and was opened as The National City Bank of Newyork in Valparaiso.

Apart from the above list, the other subsidiaries include 

• Yield Book Inc

• CitiFinancial Auto Ltd
• Citi Bank
• Universal Card Services LLC
• Citi Community Capital

Financials of Citi

The revenue of the firm as of 2020 is USD 74.3 Billion, USD 13.6 Billion is the operating income, and USD 11 Billion is the net income. As of 2021, it is ranked 33rd on the Fortune 500 and has over 200 million customers in 160 countries or more.