citigroup global markets, inc directors

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. [108] As a condition of the federal assistance, Citigroup's dividend payment was reduced to $0.01 per share. Leadership. On November 24, 2008, the U.S. government announced a massive bailout for Citigroup designed to rescue the company from bankruptcy while giving the government a major say in its operations. 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. This page was last edited on 18 January 2023, at 09:21. FInRA found that Citigroup did not properly supervise a team of brokers located in Charlotte, N.C., who used misleading sales materials during dozens of seminars and meetings for hundreds of BellSouth employees. [169] In April 2016, Citi was given regulatory approval for its "living will", its plans to shut down operations in the event of another financial crisis. There are 3 director records in this entity. [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. Strong understanding of macroeconomics in relation to fixed income markets. Citi continues to offer corporate and institutional banking and wealth management in Panama and Costa Rica. In 2012, the company paid $590 million to settle the case.[219][220]. Co-Founder and Partner of Atrevida Partners, LLC. [178] On March 1, 2022, Citi disclosed an exposure of over $10bn in Russian assets, which may be materially affected by Russia's expulsion from the SWIFT banking system. In return, the bank gave the U.S. Treasury $27 billion of preferred shares and warrants to acquire common stock. There are 9 other people named Michael Meeuwsen on AllPeople. [65] This deal complemented Travelers/Smith Barney well as Salomon was focused on fixed-income and institutional clients, whereas Smith Barney was strong in equities and retail. CITIGROUP GLOBAL MARKETS INC. was registered on 09/29/1998 as a foreign business corporation type with the address 388 GREENWICH ST NEW YORK, NY 10013-2375 . The Treasury would assume the first $5 billion in losses; the FDIC would absorb the next $10billion; then the Federal Reserve would assume the rest of the risk. Chairman of the Board of Directors . The group bought and sold $90 billion of residential mortgages annually. [22] Indeed, the passing of the Gramm-Leach-Bliley Act in November 1999 vindicated Reed and Weill's views, opening the door to financial services conglomerates offering a mix of commercial banking, investment banking, insurance underwriting, and brokerage. The U.S. Find company research, competitor information, contact details & financial data for Citigroup Global Markets Inc. of Boston, MA. [53][54] Serving a group of New York merchants, the bank opened for business on September 14 of that year,[citation needed] and Samuel Osgood was elected as the first President of the company. [22] While the new company maintained Citicorp's "Citi" brand in its name, it adopted Travelers' distinctive "red umbrella" as the new corporate logo, which was used until 2007.[67]. While we're a global bank, our mission is simple: We responsibly provide financial services that enable growth and economic progress. According to the article, former CEO Pandit said if Citigroup was allowed to unravel into bankruptcy, "100 governments around the world would be trying to figure out how to pay their employees". The professional industries of the organization Citigroup Global Markets Inc are Security Broker/Dealer, Security Brokers & Dealers, Financial Advisor. [71][72] He unexpectedly retired from Citibank in January 2000. "[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. 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 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 . The regulators suspended sales operations within Citibank's retail banking for a month. [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. The entity id number for this company is 000912293, . The company's status is Exists now. [204], On October 22, 2001, Citigroup was sued for violating federal securities laws by misrepresenting Citigroup's Enron-related exposure in its 2001 Annual Report and elsewhere, and failing to disclose the true extent of Citigroup's legal liability arising out of its 'structured finance' deals with Enron. Associate staffer 2007 - 2010. Citi is the leading global bank. [155], On June 23, 2016, Federal Reserve handed Citi a passing grade on its stress test the second time in a row, giving permission to triple its dividend to 16 cents a share and approving an $8.6 billion stock repurchase program,[156], Citi Capital Advisors (CCA), formerly Citi Alternative Investments, was a hedge fund that offered various investment strategies across multiple asset classes. The company provides investment banking services to corporate, institutional, government and retail clients in USA and other countries. The same day on Wall Street markets responded, with shares falling and dropping the company's market capitalization to $6 billion, down from $300 billion two years prior. [185][186], Citicorp Center in Chicago has a series of curved archways at its peak, and sits across the street from major competitor ABN AMRO's ABN AMRO Plaza. [181], Citigroup Center, a diagonal-roof skyscraper located in Midtown Manhattan, New York City, is Citigroup's most famous office building, which despite popular belief is not the company's headquarters building. The report indicated that Citibank took on Salinas as a client without making a thorough inquiry as to how he made his fortune, an omission that a Citibank official called a violation of the bank's "know your customer" policy. Citigroup Global Markets Ltd - Company Profile and News - Bloomberg Markets Bloomberg Terminal Demo Request Bloomberg Connecting decision makers to a dynamic network of information,. [255] Before Skyler was named and before he began his job search, the company reportedly held discussions with three other individuals to fill the position: NY Deputy Mayor Kevin Sheekey, Mayor Michael Bloomberg's "political guru [who] spearheaded his short-lived flirtation with a presidential run, who will soon leave City Hall for a position at the mayor's company, Bloomberg L.P. After Mr. Bloomberg's improbable victory in the 2001 mayor's race, both Mr. Skyler and Mr. Sheekey followed him from his company to City Hall. [190], On March 23, 2005, the National Association of Securities Dealers, the former name of the American self-regulatory organization for broker-dealers, now known as the Financial Industry Regulatory Authority (FInRA) announced total fines of $21.25 million against Citigroup Global Markets, Inc., American Express Financial Advisors and Chase Investment Services regarding suitability and supervisory violations of their mutual fund sales practices between January 2002 and July 2003. On January 13, 2009, Citi announced the merger of Smith Barney with Morgan Stanley Wealth Management. It manages $25.27 billion of regulatory assets for 47,742 client accounts. Its headquarters are located in the Shin-Marunouchi Building in Otemachi, Chiyoda, Tokyo. 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. Ethical Analysis of Citigroup 2022-11-07. Date: 19-Sep-2022. 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? Citigroup is ranked 33rd on the Fortune 500 as of 2021. [144], By June 2012, the year of Citi's 200th anniversary, Citigroup had built up $420 billion in surplus cash reserves and government securities. [182] Citigroup also owns a building in Tribeca, Manhattan at 388 Greenwich Street that serves as headquarters for its Investment and Corporate Banking operations and was the former headquarters of the Travelers Group. Main Business: Investment Banking, Sales & Trading, Research. Compared . [211] Citigroup was accused of issuing exaggerated research reports and not disclosing conflicts of interest. It has been registered with the SEC as an adviser since 2003 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 48 other states. In 2014, Citigroup agreed to pay $7 billion to resolve claims it misled investors about shoddy mortgage-backed securities in the run-up to the financial crisis. New York, New York 10019 . Citigroup had conducted illegal practices in marketing add-on products for credit cards, including credit monitoring, debt-protection products and wallet-protection services. SUSAN MILLS VICE PRESIDENT / / DIRECTOR . Investment Adviser Firm Summary CITIGROUP GLOBAL MARKETS INC. ( CRD # 7059/SEC#:801-3387,8-8177 ) Show All 35 CAPITAL MANAGEMENT DIVISION, TRAK FOR MUTUAL FUND AT NET ASSET VALUE, TRAK FOR CONSULTING GROUP CAPITAL MARKETS FUNDS, SSB COLLECTIVE FUNDS ASSET ALLOCATION SERVICE, SMITH BARNEY, HARRIS UPHAM & CO., INCORPORATED (An indirect wholly owned subsidiary of Citigroup Global Markets Holdings Inc.) Notes to Consolidated Statement of Financial Condition June 30, 2022 (Unaudited) 3 (1) Organization and Summary of Significant Accounting Policies (a) Organization Citigroup Global Markets Inc. (together with its consolidated subsidiaries, "CGMI" or "the [117] Citi Holdings consists of Citi businesses that Citi wants to sell and are not considered part of Citi's core businesses. Heritage. [97] Even after securities and brokerage firm Bear Stearns ran into serious trouble in summer 2007, Citigroup decided the possibility of trouble with its CDOs was so tiny (less than 1/100 of 1%) that they excluded them from their risk analysis. [24] It is considered a systemically important bank by the Financial Stability Board and is commonly cited as being too big to fail. [200] The five banks were also required to comply with 305 new mortgage servicing standards. With over 800 offices worldwide, Smith Barney held 9.6 million domestic client accounts, representing $1.562 trillion in client assets worldwide. Citigroup was replaced by Travelers Co.[124][125]. It has shops and restaurants serving Metra customers via the Ogilvie Transportation Center. Barbara Desoer Former Chief Executive Officer, Citibank, N.A. Citi's Institutional Clients Group (ICG) offers investment and corporate banking services and products for companies, governments, institutions, and ultra high-net-worth investors. Announces Opening of First Smart Banking Branches in Citi's Global Network", "Citi gets approval to issue credit cards in China", "Citi Ties up With Chinese Stock Brokerage to Form Citi Orient Securities", "Citigroup, other big US banks flunk 'stress tests', "Stress Tests: Official Statements From Banks", "Citi among banks that fail Fed stress test", "The Feds Stress Test Summary Results and Implications", "Taking the Measure of Citigroup and Bank of America", "Citigroup Reports First Quarter 2012 Earnings per Share of $0.95 $1.11 Excluding the Impact of Negative CVA/DVA and a Net Gain on Minority Investments", "Citi Replaces Das with Fraser in Possible Sign of Mortgage Push", "Comprehensive Capital Analysis and Review 2014: Assessment Framework and Results", "Failing Stress Test Is Another Stumble for Citigroup", "Federal Reserve releases results of Comprehensive Capital Analysis and Review (CCAR)", "Citi passes Fed stress test but BofA gets an incomplete", "Citigroup Faces Fraud Suit Claiming $1.1 Billion in Losses", "Citigroup Plans to Eliminate Shrinking Citi Holdings Unit", "Citigroup More Than Triples Its Dividend After Passing Stress Test", "Citigroup Said to Give CCA Managers 75% Fund Stake for Free", "A Citi Hedge Fund Business Prepares for Life on Its Own", "Napier Park Global Capital completes spinout from Citigroup", "Citigroup spins off alternative asset management arm", "Napier Park Global Capital Completes Spinout from Citigroup", "Citigroup to Exit Consumer Banking in 11 Markets", "Citi pulls out of consumer banking in 11 countries, profit jumps", "Citigroup selling retail online FX trading platform to FXCM, Saxo Bank", "Citigroup Names James Bindler Currencies Chief", "Springleaf Financial to Acquire OneMain Financial", "Springleaf Holdings Announces Closing of OneMain Acquisition and Ticker Symbol Change", "Scotiabank Closes Deal to Acquire Citigroup's Retail and Commercial Banking Operations in Panama and Costa Rica", "Costco names Citi, Visa as new credit card partners after AmEx deal ends", "Citigroup's 'Living Will' Passes Muster but Offers Few Insights", "Here's what Citi is doing for coronavirus assistance", "Citigroup is giving some employees a $1,000 bonus for working through the coronavirus pandemic", "Citi Singapore employees to receive $1,200 cash in April as Covid-19 aid", "Citi's $900 Million Revlon Gaffe Risks Getting Even More Painful", "Citigroup fined $400m over internal controls 'deficiencies', "Citi combines its stock trading and prime brokerage business", "Citigroup is closing its consumer banking operations in 13 markets across Asia, Europe and the Middle East", "Citi to exit Mexican consumer business as part of strategy revamp", "Citigroup says total Russian exposure nearly $10 billion", "Citigroup Acted. 04-Oct-2021. Citigroup Global Markets Inc. was registered at new york on 23 Feb 1977 as a foreign corporation. Many of the mortgages were not only defective but were a result of mortgage fraud. [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. On November 3, 2007, Bowen emailed Citigroup Chairman Robert Rubin and the bank's chief financial officer, head auditor, and the chief risk management officer to again expose the risk and potential losses, claiming that the group's internal controls had broken down and requesting an outside investigation of his business unit. The "New York" was dropped in 1962 on the 150th anniversary of the company's foundation. D&B Business Directory HOME [110][111][112], According to New York Attorney General Andrew Cuomo, Citigroup paid hundreds of millions of dollars in bonuses to more than 1,038 of its employees after it had received its $45 billion TARP funds in late 2008. [69] J. Paul Newsome, an analyst with CIBC Oppenheimer, said: "He's not the spit-and-polish executive many people expected. Former, President and Group Chief Executive Officer, Nordea Bank Abp, Former Superintendent of Banks, State of New York, Compensation, Performace Management and Culture Committee, Nomination, Governance and Public Affairs Committee, Former Assistant Secretary for Intelligence and Analysis, U.S. Department of the Treasury, and National Intelligence Manager for Threat Finance, Office of the Director of National Intelligence. Citi 3.9. Unlike in the failed stress test in 2012, Citigroup failed on qualitative concerns that were unresolved despite regulatory warnings. The salary of the CEO was set at $1 per year and the highest salary of employees was restricted to $500,000. 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 bank had been nicknamed "Citibank" since the 1860s when it began using this as an eight-letter wire code address. Global Presence. [183], All of Citigroup's New York City real estate, excluding the company's Smith Barney division and Wall Street trading division, lies along the New York City Subway's IND Queens Boulevard Line, served by the E and M trains. A leaked 2005 report prepared by Citi global strategists for their investor clients documented the imbalance of wealth between the top 1% and the bottom 60% of The Commodity Futures Trading Commission (Commission) requires each futures commission merchant (FCM), including Citigroup Global Markets Inc. (CGMI), to provide the following information to a customer prior to the time the customer first enters into an account agreement with the FCM or deposits money or . Services. [249] As of 2008, Citigroup was the 16th largest political campaign contributor in the US, out of all organizations, according to OpenSecrets. 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. It was also difficult to sell insurance directly to its customers since most customers were accustomed to purchasing insurance through a broker. [136], Citi Branded Cards introduced several new products in 2011, including: Citi ThankYou, Citi Executive/AAdvantage and Citi Simplicity cards in the U.S. 01763297. [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. Key Principal: James Forese See more contacts Industry: Security brokers and dealers , Brokers, security , Dealers, security , Investment bankers , Commodity brokers, contracts See All Industries Printer Friendly View Address: 388 Greenwich St FL 18 New York, NY, 10013-2362 United States See other locations Phone: Website: www.citigroup.com The company id for this entity is 13958500. Get the latest business insights from Dun & Bradstreet. Fixed Income Strategy (2004-2005) and global head of Structured Credit Research and Strategy (2003-2005). [158][159][160][161], In October 2014, Citigroup announced its exit from consumer banking in 11 markets, including Costa Rica, El Salvador, Guatemala, Nicaragua, Panama, Peru, Japan, Guam, the Czech Republic, Egypt, South Korea (consumer finance only), and Hungary. CITIGROUP.COM. Learn more today. The settlement required that the banks separate investment banking from research, and ban any allocation of IPO shares. [83][84][85], The company spun off its Travelers Property and Casualty insurance underwriting business in 2002. On April 6, 1998, the merger between Citicorp and Travelers Group was announced to the world, creating a $140 billion firm with assets of almost $700 billion. 388 GREENWICH STREET, New York, NY, 10013, USA . [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. During this period, Travelers acquired Shearson Lehmana retail brokerage and asset management firm that was headed by Weill until 1985[22]and merged it with Smith Barney. Citigroup Global Markets Inc. has been operating for 45 years 10 months, and 3 days. Citibank is also the first and currently the only international bank to be approved by Chinese regulators to issue credit cards under its own brand without cooperating with Chinese state-owned domestic banks. Full-Time. The report specifically stated that Citigroup failed "to project revenues and losses under a stressful scenario for material parts of the firm's global operations and its ability to develop scenarios for its internal stress testing that adequately reflects its full range business activities and exposures. Toronto, ON - Citi has launched Citi Commercial Bank (CCB) in Canada as part of a global expansion announced earlier in 2022. The bank introduced its First National City Charge Service credit cardpopularly known as the "Everything card" and later to become MasterCardin 1967. The lawsuit was initially brought by Sherry Hunt, a CitiMortgage employee.[197][198]. 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. . [22][51] The history of the company is divided into several firms that eventually amalgamated into Citicorp, a multinational banking corporation operating in more than 100 countries; or Travelers Group, whose businesses covered credit services, consumer finance, brokerage, and insurance. 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? [69], In 2000, Citigroup acquired Associates First Capital Corporation for $31.1 billion in stock,[73] which, until 1989, had been owned by Gulf+Western (now part of National Amusements),[74] and later by Ford Motor Credit Company. 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. [134][135] New sales and service centers were also opened in Moscow and St. Petersburg. INCORPORATION DATE. [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. Please be advised that this site is not optimized for use with Microsoft Internet Explorer 6. 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. bank. 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 [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. Citigroup Global Markets Inc is legally known as CITIGROUP GLOBAL MARKETS INC.. Citigroup Global Markets has 11 current employee profiles, including Chairman and Chief Executive Officer James Forese. [187], Citibank moved its credit card operations to Sioux Falls, South Dakota in 1981 after that state eliminated caps on interest rates. Company status Active Company type Private limited Company Incorporated on 21 October 1983 . Shareholder Support Rating. Former Chief Executive Officer, Citibank, N.A. 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