Citigroup Inc. or Citi (stylized as citi and pronounced like "city") is an American multinational investment banking and financial services corporation headquartered in Manhattan, New York City. The company was formed by the merger of banking giant Citicorp and financial conglomerate Travelers Group in 1998; however, Travelers was spun off from the company in 2002. Citigroup now owns Citicorp, holding company for Citibank, and several international subsidiaries.
Citigroup ranks 3rd on the list of largest banks in the United States by assets and is one of the Big Four banks in the United States, alongside JPMorgan Chase, Bank of America, and Wells Fargo. In 2016, Citigroup ranked 29th in size on the Fortune 500 list.
In addition to U.S. money managers, its largest shareholders include Abu Dhabi, Prince Al-Waleed bin Talal, and Singapore.
The company is one of 24 primary dealers in United States Treasury securities.
Citigroup has over 200 million customer accounts and does business in more than 160 countries. Citigroup has 219,000 employees, although it had 357,000 employees at its height before the financial crisis of 2007-2008.
Citigroup suffered huge losses during the financial crisis of 2007-2008 and was rescued in November 2008 in a massive stimulus package by the U.S. government.
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