Citigroup is an American based multinational company based in New York City that offers financial services. Citigroup came in to the formation after the Worlds largest mergers between the banking giant Citicorp and the financial conglomerate Travelers whose businesses sheltered brokerage, credit services, insurance and consumer finance in the Month of April 7th 1998.
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Citigroup Inc. Company prides in its largest network of financial services, and spans over 140 countries with nearly 16,000 0ffices situated worldwide. Being a primary dealer in the US treasury securities, the company employs close to 260,000 staffs around the globe and maintains over 200 million clients in over 140 countries (Donald, 2000). It offers loans and deposits (primarily through Citibank), wealth management, brokerage, investment banking and other financial services.
Citigroup is separated into four main business factions: Global Cards, that characterizes the leading issuer of credit cards around the world in addition to a 3,800-point ATM networks, in over 45 countries, Institutional Clients Group that comprises the Banking (CMB) & Citi Markets and Citi Alternative Investments (CAI), Consumer Banking and Global Wealth Management which is concerned about the direction and the level of equity also the fixed-income markets within the company.
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Despite the success with the company, it also has some limitations that have affected its operations over the years, e.g. during the global financial crisis of 2008, it endured huge losses and, the US government salvaged it in November 2008 in a tremendous stimulus package and the US took 36% of equity. Moreover, in the after effects of the financial disaster, Citi group has been selling dozens of noncore and under performing businesses in order to refocus on its original goal of traditional banking. Citi has developed a supplier score strategy to evaluate its global services supplier support of nearly over 18,000 merchants to track the materials, recycled content, recyclability and re usability of the products people buy, alongside with the general sustainability of its vendors' business forms.
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