![]() ![]() The company is a global financial powerhouse that is an agglomeration of investment and commercial banking, insurance, fund management, credit cards and investment baking. It is the world’s biggest bank by revenues. The Citigroup-Travelers merger created a titanic company that employs 374,000 people in more than 100 countries. In 1998, the company engineered a landmark $140 billion merger between Citicorp and the insurance company Travelers Group, creating the preeminent global financial conglomerate that is known today as Citigroup. Some other financial services Citi pioneered include unsecured personal loans, which it rolled out in 1928 customer checking accounts, which it introduced in 1936 and the certificate of deposit, which was introduced in 1961. As it grew, Citibank became a leading innovator in financial services, becoming the first major bank to offer customers compound interest on savings accounts in 1921. ![]() It was founded in 1812, with $2 million in capital, in New York City as the City Bank of New York, which later changed its name to Citibank. Based in New York, Citigroup is organized into four major business segments: Consumer banking, global consumer credit cards, institutional clients and wealth management. ![]() Citigroup, one of the biggest financial services companies in the world, is a vast financial services holding company whose businesses provide a wide range of financial services to consumer and corporate customers. ![]()
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