[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. Citigroup eventually stripped Bowen of most of his responsibilities and informed him that his physical presence was no longer required at the bank. In 2009, Japanese regulators again took action against Citibank Japan, because the bank had not set up an effective money laundering monitoring system. Dear Sirs, Overview. The chairmen of both parent companies, John S. Reed and Sandy Weill respectively, were announced as co-chairmen and co-CEOs of the new company, Citigroup, Inc., although the vast difference in management styles between the two immediately presented question marks over the wisdom of such a setup. "[201], In July 2015, Citigroup was fined $70 million by the United States Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency, and ordered to pay $700 million to customers. The Salomon Smith Barney name was abandoned in October 2003 after a series of financial scandals that tarnished the bank's reputation.[66]. With the acquisition, the group became Travelers Inc. Property & casualty and life & annuities underwriting capabilities were added to the business. [86] The spin-off was prompted by the insurance unit's drag on Citigroup stock price because Travelers earnings were more seasonal and vulnerable to large disasters and events such as the September 11 attacks. 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. both powered by and consumed by the wealthy;[228][229][230][231] The entity id number for this company is 000912293, . He was previously co-head of U.S. COMPANY TYPE. [211] Citigroup was accused of issuing exaggerated research reports and not disclosing conflicts of interest. 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. Leadership. Chief Executive Officer | Legacy Franchises. C.PRN - key executives, insider trading, ownership, revenue and average growth rates. Learn more today. Travelers Group, at the time of the merger, was a diverse group of financial concerns that had been brought together under CEO Sandy Weill. We have audited the accompanying consolidated statement of financial condition of Citigroup Global Markets Inc. and subsidiaries (the Company) as of December 31, 2021, and the related notes (collectively, the ICG consists of the following five main divisions: Mark Carawan was chief compliance officer from 2012 until 2020. The company provides investment banking services to corporate, institutional, government, and retail clients. 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 . This firm has 7855 employees, of which 3324 are employees in advisory roles. 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 Co-Founder and Partner of Atrevida Partners, LLC, Stanford Univ. Insider Monkey Transcripts. Citi's leadership team comprises our Executive Management Team and Board of Directors. [134][135] New sales and service centers were also opened in Moscow and St. Petersburg. Matthew Vadum, a senior editor at the conservative Capital Research Center, acknowledged these figures, but pointed out that Citigroup had been "a longtime donor to left-wing pressure groups", and referred to a Capital Research Center Foundation Watch 2006 study of Fortune 100 foundation giving, where Citigroup's foundation gave "20 times more money to groups on the left than to groups on the right" during the tax year 2003. Class of 1984 Senior Fellow and Fellow, Freeman Spogli Institute for International Studies and Dean Emeritus, NYU Leonard N. Stern School of Business, Former Assistant Secretary for Intelligence and Analysis, U.S. Department of the Treasury, Former President and Group Chief Executive Officer, Nordea Bank Abp, Former Superintendent of Banks, State of New York, Head of Enterprise Operations & Technology. Profile People (0) Documents (0) Dockets (738) Attorneys (551) Markets (0) Patents (35) Trademarks (530) Payments (9) Related (222) Citigroup Global Markets Ltd - Company Profile and News - Bloomberg Markets Bloomberg Terminal Demo Request Bloomberg Connecting decision makers to a dynamic network of information,. [119] The government guaranteed losses on more than $300 billion of troubled assets and injected $20 billion immediately into the company. "[149][150][151], On March 11, 2015, Citi has passed its first CCAR test,[152] allowing it to raise its dividend to 5 cent a share and unveiling a plan for a $7.8 billion share repurchase. Citi Holdings represents $156 billion of GAAP assets, or ~8% of Citigroup; 59% represents North American mortgages, 18% operating businesses, 13% special asset pool, and 10% categorized as other. The case against Citigroup involved recommendations and sales of Class B and Class C shares of mutual funds. [144], By June 2012, the year of Citi's 200th anniversary, Citigroup had built up $420 billion in surplus cash reserves and government securities. [153], In February 2016, the company was subject to a lawsuit as a result of the bankruptcy of a Mexican oil services firm. Shareholder Support Rating. This page was last edited on 18 January 2023, at 09:21. Pursuant to Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, publicly traded companies are required to disclose (1) the median total annual compensation of all employees other than the CEO and (2) the ratio of the CEO's annual total compensation to that of the median employee. Existing shareholders of each company owned about half of the new firm. [56] John S. Reed was elected CEO in 1984, and Citi became a founding member of the CHAPS clearing house in London. [22][23] Citigroup owns Citicorp, the holding company for Citibank, as well as several international subsidiaries. Despite the findings of the investigation, Bowen's charges were ignored, even though withholding such information from shareholders violated the SarbanesOxley Act (SOX), which he had pointed out. [157] The spin-off of CCA created Napier Park Global Capital, a $6.8 billion hedge fund with more than 100 employees in New York and London and managed by Jim O'Brien and Jonathan Dorfman. Citi received $2.7 billion and a 49% interest in the joint venture. Free and open company data on Massachusetts (US) company CITIGROUP GLOBAL MARKETS INC. (company number 112418191), 388 GREENWICH STREET, NEW YORK, NY, 10013 ARVIND RAJAN, PHD, is a Managing Director at Citigroup, where he engages in proprietary trading of credit, structured credit, and emerging markets. Grace E. Dailey Former Senior Deputy Comptroller for Bank Supervision Policy and Chief National Bank Examiner, OCC. There are 9 other people named Michael Meeuwsen on AllPeople. [123], On June 1, 2009, it was announced that Citigroup would be removed from the Dow Jones Industrial Average effective June 8, 2009, due to significant government ownership. [168] On April 1, Citigroup became the exclusive issuer of Costco-branded credit cards. In October 2007, Citigroup purchased Nikko Cordial Corporation. Weill stated at the time of the merger that they believed "that over that time the legislation will change we have had enough discussions to believe this will not be a problem". [205] In 2003, Citigroup paid $145million in fines and penalties to settle claims by the Securities and Exchange Commission and the Manhattan district attorney's office. Cliff Verron Chief Financial Officer. The company had used elaborate mathematical risk models which looked at mortgages in particular geographical areas, but never included the possibility of a national housing downturn or the prospect that millions of mortgage holders would default on their mortgages. According to the Order, approximately 15 different investors purchased notes in the Class V III offering from Citigroup Global Markets Inc. ("CGMI"), the principal U.S. broker-dealer subsidiary of Citigroup Inc. [87][88], Travelers merged with The St. Paul Companies Inc. in 2004 forming The St. Paul Travelers Companies. ", "Travelers Group, Form 8-K, Current Report", "Morgan Stanley Is Killing 'Smith Barney' Here's The Story Of How It Died", "Joseph Plumeri to Leave Citigroup For Top Job at Nonfinancial Firm", "The Chief Preacher: Joe Plumeri Citibank Finds Sales Religion", "Commerce adds Plumeri to Board of Directors", "Breaking with Tradition: Willis Re-energized", "Citigroup to Buy Associates First for $31 Billion", "Citigroup, Form 8-K, Current Report, Filing Date Oct 16, 2002", "Citigroup Settles FTC Charges Against the Associates Record-Setting $215million for Subprime Lending Victims", "E.A.B. The remaining provisions of the GlassSteagall Actenacted following the Great Depressionforbade banks to merge with insurance underwriters, and meant Citigroup had between two and five years to divest any prohibited assets. Full-Time. 388 GREENWICH STREET, New York, NY, 10013, USA . Markets Treasury Trader - C15, Director, Global Markets. Find more info on AllPeople about Michael Meeuwsen and Citigroup Global Markets Inc, as well as people who work for similar businesses nearby, colleagues for other branches, and more people with a similar name. Introduction CGML is a wholly owned, indirect subsidiary of Citigroup Inc, limited by shares. Citigroup Global Markets has 11 current employee profiles, including Chairman and Chief Executive Officer James Forese. [214][215] In 2008, Citi also agreed to pay $1.66 billion to Enron creditors. [254], In 2010, the company named Edward Skyler, formerly in New York City government and at Bloomberg L.P., to its senior public and governmental relations position. The Citigroup managing director list 2021 BCMA: Banking, Capital Markets and Advisory CSIS: Citi Security and Investigative Services EO&T: Enterprise Operations & Technology GCB: Global Consumer Bank ICG: Institutional Clients Group ICRM: Independent Compliance Risk Management O&T: Operations & Technology TTS: Treasury and Trade Solutions [22] Two years later, Weill mastered the buyout of Primerica Financial Servicesa conglomerate that had already bought life insurance company A L Williams as well as brokerage firm Smith Barney. Under his leadership, the next 14 years would see Citibank become the largest bank in the United States and the largest issuer of credit cards and charge cards in the world, and expand its global reach to over 90 countries. Citigroup Global Markets Inc. has been operating for 45 years 10 months, and 3 days. 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? With the crisis worsening, Citigroup announced on January 7, 2008, that it was considering cutting another 5 percent to 10 percent of its 327,000 member-workforce.[98][99]. Duncan P. Hennes Co-Founder and Partner of Atrevida Partners, LLC. Citigroup Global Markets Inc - Company Profile and News - Bloomberg Markets Bloomberg Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg. 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. , and retail clients, citi also agreed to pay $ 1.66 billion to creditors. Sales and service centers were also opened in Moscow and St. Petersburg employees, which... 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