Citibank

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Running Head CITIGROUP, THE RED UMBRELLA Outline 1. About CitigroupA. Company Information

Online essay help on Citibank

I. HistoryII. WorldwideIII. CommunityIV. The reason for SuccessB. CareersI. Employee Programs. Citigroup's Businesses A. Our BusinessesI. CitibankII. Smith BarneyIII. Travelers Life &AnnuityIV. Primerica B. Financial HighlightsC. Global ConsumersD. Partners . Citigroup FoundationA. Financial EducationB. Educating the Next GenerationC. Building Communities4. Conclusion 5. Bibliography About CitigroupCompany InformationI. HistoryCitibanks origins go back to the early years of the American Republic. Samuel Osgood, a friend and associate of George Washington, founded its predecessor, the City Bank of New York, in 181. The Bank survived the social and economic upheavals of the early 1th century. In 1864, it was granted a national charter and its name was changed to The National City Bank of New York. In 155, when the First National Bank of the City of New York was merged into the National City Bank of New York, the name became The First National City Bank of New York. In 176, the present form of the Banks name, Citibank, was adopted for simplicity and convenience. The formation of Citigroup in 18 created a new model of financial services organization to serve its clients' financial needs. As the company continues to grow and evolve, it's increasingly evident that such a large, complex grouping of businesses can indeed succeed. With 70,000 employees working in more than 100 countries and territories, Citigroup's globality and diversity contribute to its continued success. (www.citibank.com).II. Worldwide Via expansion, standardization of product offerings, and advertising, Citigroup is trying to build a global retail brand in financial services products. A basic assumption is that the financial services needs of individuals are similar worldwide. Citigroup branch office and product offerings can be essentially standardized worldwideIII. Community Citibank takes leadership role partnering with community organizations to revitalize and strengthen the neighborhoods where it does businesses. The partners are as diverse as the people they serve, but all share the same common goal of building better communities. Citibank and its partners help create and implement innovative solutions to address the specific needs and concerns of different communities. Citibank accomplishes this throughout programs that support the development of affordable housing, childcare centers, health care facilities, and small business. Citibank also has a great program in education that gives young people the opportunity to expand their worldview. This is accomplished by the support of school to work programs, educational technology resources in the classroom and at home. In higher education, Citibank fund a number of programs that provide scholarships and fellowships for minorities and those who are financially disadvantage. Another important form of support is volunteerism. Citibank's employees work thousands of hours each year as a volunteer. They get involved through company-sponsored programs as well as through individual causes. IV. The Reason for Success Citibanks success is due in large measure to the dedication of its people-men and women recognized around the world for their professionalism and talents. Global diversity continues to drive the Banks activities. Personal integrity and respect for each individual are at the foundation of Citibanks philosophy. Consistent quality performance is at the base of continued global growth. Citibanks reputation is its most valuable institutional asset. As Citibank continue to expand in new environments where people of different cultures do business their way, its standard for business integrity and for personal respect is maintained and protected. Another important point is due to the fact that Citibank offers a truly global environment where employees are exposed to the ideas and perspectives of "Citibankers" from other countries, either through working with them locally or by serving on multinational and multifunctional client service teams. The resulting expansion of business, intellectual, and cultural horizons almost always enhances both professional and personal accomplishments. Those are the five core of Citibank's success (www.citibank.com) · Valuing Diversity and Individual Talents· Performance and Your Future· Continues Improvement Through Training and Experience· Commitment to People and their Development· Leadership DevelopmentCareers Citigroup brings together an incredible diversity of products and services, multiple distribution channels, the largest financial services firm, and capital strength that enables Citigroup not only to ride out economic storms but also to seize opportunities. Citigroup is the first financial services company in the United States to bring together banking, insurance and investments under one umbrella. There are approximately 50,000 thousand employees serving 00 million customers across six continents including brands such as Citibank, CitiFinancial, Primerica, Salomon Smith Barney, Banamex, Travelers Life and Annuity and much more. (www.ft.com).Citigroups combination of financial strength and broad product and geographic scope, provides an opportunity for outstanding professionals to more fully realize their potential. In seeking to serve clients and provide shareholder value, the highest priority is to focus on attracting outstanding people to Citigroup and providing them with a rewarding and fulfilling environment.Citigroup is a company for people who want to make a difference and who are honest, insightful and creative. Employees flourish in an environment of change, challenge and competition, working for a company with the highest standards of moral and ethical conduct, working to earn client trust, day in and day out.I. Employee Program Citigroup has about 50,000 employees across 100 countries with a variety of programs to challenge and improve their work careers such as (Citibank.com)· Training and Development, Citibank provides an array of technical and professional development employee training programs. The web-based learning programs empower employees to enhance their skills when they need it and on demand. Classroom training, self-paced learning accelerated learning paths, and multimedia delivery options are just a few of the learning channels available to employees advance in their career.· Benefits, Citigroup offers a wide variety of benefits and compensation programs to its employees to help them meet todays needs and prepare for the future. These programs include health and welfare, savings, and equity ownership. · Work/Life Balance, Citigroup offer several kinds of support to help employees succeed in their career and in their personal life. Citigroup offers back-up childcare to more employees than any other corporation in the world. (www.forbes.com). In the U.S., Canada and Puerto Rico, Citigroup offers a confidential service to provide practical solutions, information, referrals and resources on topics ranging from parenting, childcare, adoption, education, health and older adults to remodeling and repairing a home. Citigroup's Businesses Our BusinessesCitibank Found in more than 100 countries worldwide, Citibank delivers a wide array of banking, lending and investment services to individual consumers, as well as to small businesses with up to $10 million in annual sales. (www.businessweek.com). It also offers a full range of financial services products to serve the needs of small and large corporations, governments, and institutional and individual investors. The Financial Center Network is comprised of local offices and complemented by electronic delivery systems, including ATMs and the World Wide Web. Specific products and services include basic banking accounts, investment services through Citicorp Investment Services, CitiTerm life insurance, CitiPhone banking, and CitiGold accounts, which integrate banking, borrowing, and investing services.Banamex Banamex is Mexicos largest commercial bank in terms of equity and earnings, with an extensive distribution network of more than 1,500 branches and 4,00 ATMs.Smith Barney Today Smith Barneys 1,700 Financial Consultants serve more than 7. million client accounts representing more than $860 billion in client assets (www.citi.com). They provide comprehensive financial planning, research and money management services to individual investors, institutions, corporations, governments and foundations.Travelers Life & AnnuityTravelers Life and Annuity specializes in life insurance and individual and group annuity products that address the asset protection, retirement planning and estate preservation needs of our customersCitiFinancial CitiFinancial provides community-based lending services through a strong branch network system. All the decisions are made locally by CitiFinancial team members who live and work in the locations they serve and gives us a unique competitive advantage, allowing us to best determine each client's needs. The consumer loan services include real estate-secured loans, unsecured and partially secured personal loans, and loans to finance consumer goods.CitiInsuranceCitiInsurance is Citigroups international insurance business, which currently distributes insurance products in 4 countries and manufactures insurance in six countries. CitiInsurance focuses on life and retirement-related products, including variable and fixed annuities and other unit-linked products; an array of credit-related products, including personal accident and health.Primerica With more than 100,000 full and part-time representatives, Primerica is the largest financial services marketing organization in North America. Primerica offers consumers an array of financial services and products, including term life insurance underwritten by Primerica Life. The company also markets other Citigroup Products, including Salomon Smith Barney Mutual Funds, Travelers Insurance Company annuities, and CitiFinancial loans and mortgages.Financial Highlights (www.finacialtimes.com) CITIGROUP NET INCOMEPRODUCT VIEWIn millions of dollars, except per share amounts

00

001

% Change

SEGMENT INCOMEGLOBAL CONSUMER GROUPCards

$,15

$,56

%Consumer Finance

,10

1,05

16Retail Banking

,0

,508

Other

(140)

(11)

(4)TOTAL GLOBAL CONSUMER GROUP

8,45

6,86

GLOBAL CORPORATE & INVESTMENT BANK Capital Markets & Banking

,871

,887

-Transaction Services

51

407

8Other 1

(1,6)

5

NMTOTAL GLOBAL CORPORATE & INVESTMENT BANK

,0

4,46

(0)SMITH BARNEY (PRIVATE CLIENT GROUP)

7

767

(6)GLOBAL INVESTMENT MANAGEMENTLife Insurance & Annuities

86

86

-Private Bank

456

68

4Asset Management

51

TOTAL GLOBAL INVESTMENT MANAGEMENT

1,81

1,56

14PROPRIETARY INVESTMENT ACTIVITIES

(448)

18

NMCORPORATE/OTHER

()

(64)

85NET INCOME

$15,76

$14,16

8%NET REVENUE

$71,08

$67,67

6%RETURN ON AVERAGE COMMON EQUITY

18.6%

1.7%

.

Global ConsumersGlobal Consumers delivers a wide selection of banking, lending, insurance and investment services through a network of local branches, offices and electronic delivery systems, including ATMs, Automated Lending Machines and the World Wide Web. The Global Consumer businesses serve individual consumers as well as small businesses. Global Consumer includes Cards, Consumer Finance and Retail Banking. Card MasterCard, VISA and private label credit and charge cards. International Cards provides credit and charge cards to customers in Western Europe, Japan, Asia, Central and Eastern Europe, Middle East and Africa (CEEMEA) and Latin America. Consumer Finance provides community-based lending services through branch networks, regional sales offices and cross-selling initiatives with other Citigroup businesses. The business of CitiFinancial is included in North America Consumer Finance. As of December 1, 00, North America Consumer Finance maintained ,411 offices, including ,186 CitiFinancial offices in the U.S. and Canada, while International Consumer Finance maintained 1,14 offices, including 884 in Japan (Citibank.com) Consumer Finance offers real estate-secured loans, unsecured and partially secured personal loans, auto loans and loans to finance consumer goods purchases. In addition, CitiFinancial, through certain subsidiaries and third parties, makes available various credit-related and other insurance products to its U.S. customers. Retail Banking provides banking, lending, investment and insurance services to customers through retail branches and electronic delivery systems. In North America, Retail Banking includes the operations of Citibanking in North America, Consumer Assets, Primerica Financial Services (Primerica) and Mexico Retail Banking. The Consumer Assets business originates and services mortgages and student loans for customers across the U.S. The business operations of Primerica involve the sale, mainly in North America, of life insurance and other products manufactured by its affiliates, including Smith Barney mutual funds, CitiFinancial mortgages and personal loans and the products of our Life Insurance and Annuities business within the GIM segment. The Primerica sales force is composed of over 100,000 independent representatives (www.forbes.com). Mexico Retail Banking consists of the branch banking operations of Banamex. International Retail Banking provides full-service banking and investment services in Western Europe, Japan, Asia, CEEMEA and Latin America.Partners Citigroup has launched many new services over the past few years. They have expanded operations on the web, especially for CitiDirect online, the banking platform for corporate and institutional customers, which is now available in twelve languages and can be viewed in eighty-five countries. Citigroup has entered into many agreements with AOL Time Warner and Microsoft in order to achieve cross marketing. Citigroup now receives more than $1 billion in revenues from their cross-marketing initiatives.From the high reputation and crossmarketing abilities of Citigroup, they have been able to attain one of the best lists of clientele in the country. Eightyeight percent of the Fortune 50 companies conduct business with the Investment and Corporate Bank ofCitigroup. Citigroup Foundation The Citigroup Foundation is the philanthropic arm of Citigroup Inc., the world's preeminent financial services firm. In 001, Citigroup businesses and the Citigroup Foundation gave more than $67 million in grants to organizations in 74 countries. (www.citibank.com). By partnering with Citigroup businesses around the world, the Foundation is able to put the full resources of a global institution to work for the local organizations. The foundation has three main focus areasFinancial Education Employees from all around the globe are using their experience and expertise to help individuals and organizations to develop personal financial management skills and create a more secure financial future for themselves and their families. Some examples are · National Academy Foundation· National Community Reinvestment Coalitions Financial Literacy Program · The junior AchievementEducating the Next Generation The Citigroup Foundation seeks through arts education programs to strengthen the quality of teaching, improve student achievement, increase access to higher education, and encourage students' creativity. According to them, enhancing educational opportunities will better prepare the next generation to achieve personal and professional success. Some examples are· Brooklyn Academy of Music· Civic Education Project· CitiSuccess Funds· Hispanic Scholarship/Citigroup Fellows Programs· UNCF/Citigroup Fellows Program Building Communities and Entrepreneurs Citigroup operates in more than 100 countries, and in each, the workforce is more than 0 percent local. The result is an environment with respect for diverse backgrounds and different cultures, combined with the company's deep desire to make each community a better place. Some examples are· ACCION International Latin America Regional Microenterprise Collaborative· Women's World Banking· Corporation for Supportive Housing· Enterprise Foundation· Habitat for Humanity ConclusionOn October 18, Travelers Group merged with Citigroup Inc. to form a new model of financial organization, which represents the unification of the banking, insurance, and securities services. The combined company, which was named Citigroup Inc. started to use the trademark Travelers red umbrella as its logo, associated as protection against a "rainy day". Citigroup's principal activities are conducted into four divisions Global consumer includes full-service consumer franchise encompassing, branch and electronic banking, consumer lending services and credit and charge card services, personalized wealth management services; Global corporate and Investment bank includes the provision of financial services such as investment banking, retail brokerage, corporate banking and cash management products and services and commercial insurance; Asset management includes asset management services provided to mutual funds and institutional and individual investors; and Investment activities which includes the Companys venture capital activities, the realized investment gains and losses related to certain corporate and insurance-related investments.Citigroup has a presence in more than 100 countries and can compete with any other company in major markets across the world. Citigroup has the most capital of any firm in the industry, with $88 billion. This provides them with many opportunities for investment in the future. They also have the second largest amount of total assets compared to other top companiesNowadays, Citigroup is in a great position to expand. They are also in a strong growth stage even though they are already a well-established corporation. Citigroup plans to explore many other markets of the world and provide financial services. The opportunity for growth in emerging markets is dramatic eighty six percent of the world's population lives in emerging-market countries; it is possible for them to accommodate every type of client they may encounter. Overall, Citigroup is a firm that possesses many desirable qualities that an investor would look for. There are many uncertainties about the industry as a whole, but Citigroup has established them as a leader and has positioned them to be on top for many years to come. They possess the business plan and resources necessary to expand operations into new markets and thrive. Their different business entities will help them to diversify and keep earnings steadily on the rise.Bibliographywww.businessweek.comwww.forbes.comwww.citi.comwww.fortune500.comwww.citibank.comwww.financialtime.com Please note that this sample paper on Citibank is for your review only. In order to eliminate any of the plagiarism issues, it is highly recommended that you do not use it for you own writing purposes. In case you experience difficulties with writing a well structured and accurately composed paper on Citibank, we are here to assist you. Your persuasive essay on Citibank will be written from scratch, so you do not have to worry about its originality.

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