- Business
- Citigroup Inc. Citigroup Inc. is a diversified global financial services holding company that provides a broad range of banking, investment, and wealth management products and services to consumers, corporations, governments, and institutions worldwide; its core offerings span the Institutional Clients Group, encompassing investment banking, corporate banking, treasury and trade solutions, securities services including custody and asset servicing, markets, and digital asset solutions such as token services for real-time cross-border payments; and the Personal Banking and Wealth Management division, featuring retail banking through Citibank, the third-largest U.S. credit card issuer with branded cards like the Citi / AAdvantage Globe Mastercard, consumer lending, mortgages, brokerage, and wealth management for high-net-worth clients. Headquartered in New York City with roots tracing back to 1812 via its predecessor City Bank of New York and formally established in 1998 through the merger of Citicorp and Travelers Group, the company maintains a physical presence in over 100 countries and serves clients in more than 160 nations, focusing on cross-border needs, large corporates, family offices, and U.S. personal banking. Recent strategic changes include ongoing divestitures of international consumer businesses such as the agreement in September 2025 for Fernando Chico Pardo to acquire a 25% equity stake in Banamex ahead of its planned public listing, completion of exits from consumer operations in Korea, Poland, and Russia, a $16 million expansion in Charlotte adding 510 technology jobs in August 2025 to support global operations, hires like JPMorgan's Guillermo Baygual as co-head of M&A in August 2025 to bolster investment banking, expansion of research coverage to 100 private tech firms in July 2025, a partnership with Apollo for a $25 billion private credit platform in 2024, integration of its Retail Bank into Wealth and U.S. Consumer Cards reorganization announced November 2025, CFO Mark Mason's transition to Executive Vice Chair with Gonzalo Luchetti succeeding by March 2026, over $8.75 billion in 2025 share repurchases including a $4.99 billion tranche, unveiling of Citi Token Services for Euro transactions and Dublin expansion in November 2025, and a collaboration with Coinbase in October 2025 to enhance digital asset payments.