citigroup global markets, inc directors

[166][167], In February 2016, Citi sold its retail and commercial banking operations in Panama and Costa Rica to the Bank of Nova Scotia (Scotiabank) for $360 million. 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 Operating businesses include OneMain Financial ($10B), PrimeRe ($7B), MSSB JV ($8B) and Spain / Greece retail ($4B), less associated loan loss reserves. [251], In 2014 Citigroup's PAC contributed $804,000 to campaigns of various members of Congress, i.e. In 2009, Japanese regulators again took action against Citibank Japan, because the bank had not set up an effective money laundering monitoring system. CCB delivers Citi's wide array of institutional products and solutions to meet the evolving needs of mid-size corporates as they grow rapidly and expand internationally. 162 members of the House, including 72 Democrats, where donations averaged about $5,000 per candidate. [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. Main Business: Investment Banking, Sales & Trading, Research. Grace E. Dailey Former Senior Deputy Comptroller for Bank Supervision Policy and Chief National Bank Examiner, OCC. Stanford Univ. Its roots came from Commercial Credit, a subsidiary of Control Data Corporation that was taken private by Weill in November 1986 after taking charge of the company earlier that year. c/o J.P. Morgan Securities LLC . And it was certainly not written to prevent the government from selling its shares for a profit. The 2012 stress tests determined whether banks could withstand a financial crisis that has unemployment at 13%, stock prices to be cut in half, and home prices decreased by 21%. RHO VENTURESAnalyst 2000 - 2001. Citi, the leading global bank, serves more than 200 million customer accounts and does business in more than 160 countries and jurisdictions. Salomon Brothers absorbed Smith Barney into the new securities unit termed Salomon Smith Barney; a year later, the division incorporated Citicorp's former securities operations as well. [256], On March 21, 2018, it was announced that Citigroup changed its policy to forbid its business customers from performing certain firearm-related transactions. In comparison, Bank of America, which passed the stress test and did not ask for a capital return to investors, received 78% of its revenue in the United States. 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. The Financial Crisis Inquiry Commission asked him to testify about Citigroup's role in the mortgage crisis, and he did so, appearing as one of the first witnesses before the Commission in April 2010. It is one of the nine global investment banks in the Bulge Bracket. Existing shareholders of each company owned about half of the new firm. [76][77], In 2001, Citigroup made additional acquisitions: European American Bank, in July, for $1.9 billion,[78][79][80][81][82] and Banamex in August, for $12.5 billion. INCORPORATION DATE. Select from premium Citigroup Global Markets Inc Managing Director Ed Morse Interview of the highest quality. On February 9, 2012, it was announced that the five largest mortgage servicers (Ally/GMAC, Bank of America, Citi, JPMorgan Chase, and Wells Fargo) agreed to a historic settlement with the federal government and 49 states. Cliff Verron Chief Financial Officer. 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. Citi's Institutional Clients Group (ICG) offers investment and corporate banking services and products for companies, governments, institutions, and ultra high-net-worth investors. According to Treasury spokeswoman Nayyera Haq, "This (IRS tax) rule was designed to stop corporate raiders from using loss corporations to evade taxes and was never intended to address the unprecedented situation where the government owned shares in banks. 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. March 20, 2018 Acadia Healthcare Company, Inc., nine individual directors, and Citigroup Global Markets Inc. are facing a proposed class action alleging the defendants misled investors regarding Acadia's business operations and financial prospects. [56][58][59][61], Credit cards at this time had an annual fee,[62] which they raised more than once.[63]. Citigroup was replaced by Travelers Co.[124][125]. With the acquisition, the group became Travelers Inc. Property & casualty and life & annuities underwriting capabilities were added to the business. Long Term Issuer Default Rating. In November 1997, Travelers Group (which had been renamed again in April 1995 when they merged with Aetna Property and Casualty, Inc.), acquired Salomon Brothers, a major bond dealer and bulge bracket investment bank, in a $9 billion transaction. Meanwhile, the distinctive Travelers red umbrella logo, which was also acquired in the deal, was applied to all the businesses within the newly named organization. Chief Executive Officer | Legacy Franchises. The new company took the Primerica name, and employed a "cross-selling" strategy such that each of the entities within the parent company aimed to sell each other's services. [258], "Citi" redirects here. [129][130], In 2010, Citigroup achieved its first profitable year since 2007. 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. 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. C.PRN - key executives, insider trading, ownership, revenue and average growth rates. [173], In August 2020, Citi mistakenly wired $900 million to the creditors of one of its clients, the American cosmetics corporation Revlon. A joint statement by the US Treasury Department, the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) announced: "With these transactions, the U.S. government is taking the actions necessary to strengthen the financial system and protect U.S. taxpayers and the U.S. The company's remaining foreign exchange sales & trading businesses continued operating in the wake of this deal under the leadership of James Bindler, who succeeded Jeff Feig as the firm's global head of foreign exchange in 2014. Date: 19-Sep-2022. Citigroup Global Markets Inc. filed as a Domestic Business Corporation in the State of New York on Wednesday, February 23, 1977 and is approximately forty-five years old, as recorded in documents filed with New York Department of State. Stock Exchange Chris Pompilio: The company started trading on 21 October 1983. When Bowen first became a whistleblower in 2006, 60% of the mortgages were defective. The majority of its assets are U.S. mortgages. CITIGROUP GLOBAL MARKETS INC. was registered on Sep 25, 1998 as a stock type company located at 388 GREENWICH STREET, NEW YORK, NY 10013 . by Erin Shaak Heavy exposure to troubled mortgages in the form of collateralized debt obligation (CDOs), compounded by poor risk management, led Citigroup into trouble as the subprime mortgage crisis worsened in 2007. The agent name for this entity is: C T Corporation System. It reported $10.6 billion in net profit, compared with a $1.6 billion loss in 2009. [134][135] New sales and service centers were also opened in Moscow and St. Petersburg. Key Principal: David Rose See more contacts Industry: Stock brokers and dealers Printer Friendly View Address: 1 Pluckemin Way Bldg C Bedminster, NJ, 07921-1541 United States See other locations Phone: Website: www.citigroup.com Employees (this site): Modelled ESG ranking: ESG industry average: What is D&B's ESG Ranking? [146] This was a result of selling more than $500 billion of its special assets placed in Citi Holdings, which were guaranteed from losses by the US Treasury while under federal majority ownership. He oversaw its network of 450 branches. Services. 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. Its non-financial businesses were spun off. the Middle Class was not its focus. Personal Bank. Obliged", "Citigroup picks veteran to replace Pandit as CEO", "Citibank Bows to Trend, Cuts Credit Card Rate", "South Dakota: Credit Card Haven or the Cayman Islands for Banks? While Citi Holdings is a mixed bag, its primary objective is to wind down some non-core businesses and reduce assets, and strategically "breaking even" in 2015. The Treasury Department, the Federal Reserve and the FDIC agreed to cover 90% of the losses on Citigroup's $335 billion portfolio after Citigroup absorbed the first $29 billion in losses. Key Principal: ROBERT MALONEY See more contacts Industry: Investment advice Printer Friendly View Address: 53 State St Ste 39 Boston, MA, 02109-3001 United States See other locations Phone: Website: www.citigroup.com Employees (this site): Actual ESG ranking: ESG industry average: What is D&B's ESG Ranking? Without cookies, the site won't function as expected . This list only contains chief executives since the formation of Citigroup in 1998. 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. Citigroup Global Markets Inc. J.P. Morgan Securities LLC . [116] Citigroup will continue to operate as a single company for the time being, but Citi Holdings managers will be tasked to "take advantage of value-enhancing disposition and combination opportunities as they emerge",[116] and eventual spin-offs or mergers involving either operating unit were not ruled out. Full-time. Citi will continue to operate its consumer banking businesses in the USA, Canada, Europe and in only 4 other markets: Hong Kong, Singapore, London and the UAE across the entire APAC and EMEA regions. In 2007, Citigroup indicated that its exposure was less than $13 billion, when in fact it was over $50 billion. [216][217][218], On November 8, 2007, Citigroup was sued for financial misrepresentations and omissions of what amounted to more than two years of income and an entire line of business. This page was last edited on 18 January 2023, at 09:21. Citi Markets provides world-class products and financing solutions for corporations, governments, and institutional and retail investors through our dominant underwriting, sales and trading, and distribution capabilities. This website uses cookies to give you the best user experience by personalizing your content and analyzing traffic. Director, Global Technology Investment Banking Since 2001. Wesley S. Williams Co-Head of European Financial Institutions Business - Citigroup. 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.) [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. It also has a branch office in the Sonezaki district of Kita-ku, Osaka . 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 Citigroup Inc. Duncan P. Hennes. 21/10/1983 (39 years and 1 months old) WEBSITE. Company Description: Citigroup Global Markets Inc. (CGMI) is the US-based brokerage and securities arm of banking behemoth Citigroup. To comply with the Volcker Rule, which limits bank ownership in hedge funds to no more than 3%, Citi spun off its hedge fund unit in 2013 and gave a majority of the company to its managers. Co-Founder and Partner of Atrevida Partners, LLC. BUSINESS ACTIVITY (SIC) 66120 - Security and commodity contracts dealing activities. [199] The settlement, known as the National Mortgage Settlement (NMS), required the servicers to provide about $26 billion in relief to distressed homeowners and in-direct payments to the states and the federal government. [68], Joe J. Plumeri worked on the post-merger integration of the two companies and was appointed CEO of Citibank North America by Weill and Reed. Fixed Income Strategy (2004-2005) and global head of Structured Credit Research and Strategy (2003-2005). The salary of the CEO was set at $1 per year and the highest salary of employees was restricted to $500,000. Despite this deal, industry surveys pegged Citi as the biggest banking player in the forex market. The regulator suspended bank activities in one branch and three offices and restricted their consumer banking division. The settlement required that the banks separate investment banking from research, and ban any allocation of IPO shares. 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. Citigroup CEO Charles Prince signed a certification that the bank was in compliance with SOX despite Bowen revealing this wasn't so. [109], According to The Wall Street Journal, the government aid provided to Citi in 2008/2009 was provided to prevent a worldwide chaos and panic by the potential collapse of its Global Transactions Services (now TTS) division. In a The New York Times op-ed, Michael Lewis and David Einhorn described the November 2008 $306 billion guarantee as "an undisguised gift" without any real crisis motivating it. . The agent name of this company is: C T CORPORATION SYSTEM , and company's status is listed as Active now. Executive salaries would be capped. [225], In December 2002, Citigroup paid fines totaling $400million, to states and the federal government as part of a settlement involving charges that ten banks, including Citigroup, deceived investors with biased research. 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