citigroup global markets, inc directors

Please be advised that this site is not optimized for use with Microsoft Internet Explorer 6. Citigroup Inc. or Citi (stylized as citi) is an American multinational investment bank and financial services corporation headquartered in New York City. [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. [56] John S. Reed was elected CEO in 1984, and Citi became a founding member of the CHAPS clearing house in London. Hohlt responded that though mistakes were made in the earlier episode he'd never been investigated by any government agency and his experience gave him a reason to be back in the "operating room" as parties address the more recent crisis. Profile People (0) Documents (0) Dockets (738) Attorneys (551) Markets (0) Patents (35) Trademarks (530) Payments (9) Related (222) Registered Address 388 GREENWICH STREET NEW YORK 10013 In spite of divesting Travelers Insurance, Citigroup retained Travelers' signature red umbrella logo as its own until February 2007, when Citigroup agreed to sell the logo back to St. Paul Travelers,[93] which renamed itself Travelers Companies. He was previously co-head of U.S. [144], By June 2012, the year of Citi's 200th anniversary, Citigroup had built up $420 billion in surplus cash reserves and government securities. With over 800 offices worldwide, Smith Barney held 9.6 million domestic client accounts, representing $1.562 trillion in client assets worldwide. 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. [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. (Reuters) - Citigroup Inc is boosting compensation for most of its junior bankers by as much as 15%, Bloomberg News reported on Wednesday, highlighting the talent war on Wall Street even amid . This settlement amount makes the NMS the second largest civil settlement in U.S. history, only trailing the Tobacco Master Settlement Agreement. It also has Latin America partnership cards with Colombia-based airline Avianca and with Banamex and AeroMexico; and a merchant loyalty program in Europe. [170], In response to the COVID-19 pandemic, Citi provided support to cardholders including waiving late fees. Citi Express modules, 24-hour service units, were introduced in Colombia. [22] The deal would enable Travelers to market mutual funds and insurance to Citicorp's retail customers while giving the banking divisions access to an expanded client base of investors and insurance buyers. [224], On June 1, 2018, the Australian Competition and Consumer Commission (ACCC) announced that criminal cartel charges are expected to be laid by the Commonwealth Director of Public Prosecutions (CDPP) against ANZ Bank, its Group Treasurer Rick Moscati, along with Deutsche Bank, Citigroup and a number of individuals. economy."[103][104][105][106]. So Why Don't More American Men Take It? Meanwhile, the distinctive Travelers red umbrella logo, which was also acquired in the deal, was applied to all the businesses within the newly named organization. [145] As of March 31, 2012, Citi had a Tier 1 capital ratio of 12.4%. 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. [188][62] In 2013, Citibank employed 2,900 in Sioux Falls and is one of the largest employers in the city. [75] The Associates was widely criticized for predatory lending practices and Citi eventually settled with the Federal Trade Commission by agreeing to pay $240million to customers who had been victims of a variety of predatory practices, including "flipping" mortgages, "packing" mortgages with optional credit insurance, and deceptive marketing practices. [87][88], Travelers merged with The St. Paul Companies Inc. in 2004 forming The St. Paul Travelers Companies. 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 Middle Class was not its focus. [56] Also in 1967, First National City Bank was reorganized as a one-bank holding company, First National City Corporation, or "Citicorp" for short. [22] Two years later, Weill mastered the buyout of Primerica Financial Servicesa conglomerate that had already bought life insurance company A L Williams as well as brokerage firm Smith Barney. [192], In July 2010, Citigroup agreed to pay $75 million to settle civil charges that it misled investors over potential losses from high-risk mortgages. The policy doesn't affect clients who offer credit cards backed by Citigroup or borrow money, use banking services, or raise capital through the company. C.PRN - key executives, insider trading, ownership, revenue and average growth rates. It consists of several business entities including remaining interests in local consumer lending such as OneMain Financial, divestitures such as Smith Barney, and a special asset pool. Chief Executive Officer | Personal Banking & Wealth Management, Executive Vice President | Enterprise Services and Public Affairs, Head of Enterprise Infrastructure Operations & Technology, Chief Executive Officer | Institutional Clients Group, Former President and CEO, BMO Financial Corporation | Former U.S. Country Head, BMO Financial Group, Former Senior Deputy Comptroller for Bank Supervision Policy and Chief National Bank Examiner, Office of the Comptroller of the Currency (OCC). Markets Operations Technology Delivery Lead. [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. [214][215] In 2008, Citi also agreed to pay $1.66 billion to Enron creditors. [216][217][218], On November 8, 2007, Citigroup was sued for financial misrepresentations and omissions of what amounted to more than two years of income and an entire line of business. 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". Director, Global Technology Investment Banking Since 2001. Former Chief Executive Officer, Citibank, N.A. Stock Exchange "[201], In July 2015, Citigroup was fined $70 million by the United States Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency, and ordered to pay $700 million to customers. [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 has its headquarters located in downtown Tribeca (388 Greenwich). [108] As a condition of the federal assistance, Citigroup's dividend payment was reduced to $0.01 per share. Sort by: relevance - date. Scott C. Kursman is a Managing Director and Chief Compliance Officer for Citigroup Global Markets, Inc. (Broker-Dealer, Swap Dealer and Futures Commission Merchant) and the Citibank N.A., Swap Dealer. Operator: Hello and welcome to Citi's Fourth Quarter 2022 Earnings Review with the Chief Executive Officer, Jane Fraser; and Chief Financial Officer, Mark Mason. [164][165], In November 2015, Springleaf acquired OneMain Financial from Citigroup. [200] The five banks were also required to comply with 305 new mortgage servicing standards. ", "The effect of own and spousal parental leave on earnings", El Pas: Citi traslada a Madrid su ncleo de banca privada del sur de Europa por el Brexit - Pablo Martn Simn, 16 March 2020, "Wall Street's Omnibus Triumph, and Others", "Mayor Bloomberg deputy Edward Skyler says so long to City Hall", "Another Exit From Bloomberg's Inner Circle", "Citigroup Sets Restrictions on Gun Sales by Business Partners", "Citi Foundation to Provide $15 Million to Support COVID-19 Related Relief Efforts Globally", "25 People to Blame for the Financial Crisis", "Citigroup chief stays bullish on buy-outs", "Citigroup chief compliance officer Mark Carawan retires", https://en.wikipedia.org/w/index.php?title=Citigroup&oldid=1134364968, Acciones y Valores de Mxico (Acciones y Valores Banamex, Casa de Bolsa Integrante del Grupo Financiero Banamex), Citigroup Global Markets, Inc., Citigroup Global Markets Limited (UK), and. [173], In August 2020, Citi mistakenly wired $900 million to the creditors of one of its clients, the American cosmetics corporation Revlon. According to the Order, approximately 15 different investors purchased notes in the Class V III offering from Citigroup Global Markets Inc. ("CGMI"), the principal U.S. broker-dealer subsidiary of Citigroup Inc. Citigroup had conducted illegal practices in marketing add-on products for credit cards, including credit monitoring, debt-protection products and wallet-protection services. 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. New York, New York 10013 . [171] It also announced that some lower paid employees would receive a one-off payment of US$1,000 to help them through the crisis. [119] The government guaranteed losses on more than $300 billion of troubled assets and injected $20 billion immediately into the company. CITIGROUP FINANCIAL PRODUCTS INC. 100% SHAREHOLDER ARNOLD, EDWARD RAYMOND (CRD#:1876464) CHIEF COMPLIANCE OFFICER - EQUITIES AND EQUITIES DERIVATIVES CHATTERJEE, BISWARUP (CRD#:3102524) DIRECTOR CHATTERJEE, BISWARUP (CRD#:3102524) CEO/CHAIRMAN/PRESIDENT CHIRICO, JOHN A (CRD#:2916366) DIRECTOR DHOUIBI, STEPHANIE ANISSA (CRD#:7189271) DIRECTOR [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. Bowen's responsibility was essential to serve as the quality control supervisor ensuring the unit's creditworthiness. CITIGROUP GLOBAL MARKETS INC. was registered on Sep 28 1998 as a foreign profit corporation type with the address 388 Greenwich Street, New York, NY, 10013, USA . [118], On February 27, 2009, Citigroup announced that the U.S. government would take a 36% equity stake in the company by converting US$25 billion in emergency aid into common stock with a United States Treasury credit line of $45 billion to prevent the bankruptcy of the company. In comparison, Bank of America, which passed the stress test and did not ask for a capital return to investors, received 78% of its revenue in the United States. [212][213], In 2005, Citigroup paid $2 billion to settle a lawsuit filed by investors in Enron. Citigroup Inc. Duncan P. Hennes. 1:Financial Giants Unite", "The Dramatic Highlights From Citi's 200-Year History", "Today In Fast Money History -- June 16th", "Invade Haiti, Wall Street Urged. 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. D&B Business Directory HOME 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. [184], Citigroup owns the naming rights to Citi Field, the home ballpark of the New York Mets Major League Baseball team, via a $400 million, 20-year deal that commenced with the stadium opening in 2009. Citigroup was criticized for failing to adequately supervise its traders and for not having systems in place to detect spoofing, which involves entering fake orders designed to fool others into thinking prices are poised to rise or fall. If you want to learn more please read our Privacy policy. In 2018, they began building a new headquarters that will be 150,000 square feet of office space on a 19-acre campus. Select from premium Citigroup Global Markets Inc Managing Director Ed Morse Interview of the highest quality. Broker Details Market Specialization Real Estate OTC Metals Interest Rates Foreign Exchange The U.S. Securities and Exchange Commission said that Citigroup had made misleading statements about the company's exposure to subprime mortgages. [122] Government restrictions on pay and oversight of the senior management were removed after the U.S. government sold its remaining 27% stake in December 2010. Visit Citigroup Global Markets Inc. "[133], In 2011, Citi was the first bank to introduce digitized Smart Banking branches in Washington, D.C., New York, Tokyo and Busan (South Korea) while it continued renovating its entire branch network. The case against Citigroup involved recommendations and sales of Class B and Class C shares of mutual funds. Bowen attempted to rouse the board via weekly reports and other communications. As a result, late in the evening on November 23, 2008, Citigroup and Federal regulators approved a plan to stabilize the company and forestall a further deterioration in the company's value. [256], On March 21, 2018, it was announced that Citigroup changed its policy to forbid its business customers from performing certain firearm-related transactions. In the transaction, Travelers Group acquired all Citicorp shares for $70 billion in stock, issuing 2.5 new Citigroup shares for each Citicorp share. by Erin Shaak Smith Barney, Citi's global private wealth management unit, provided brokerage, investment banking and asset management services to corporations, governments and individuals around the world. Services. [29], Citigroup is the holding company for the following divisions:[30], Citigroup was formed on October 8, 1998, following the $140 billion merger of Citicorp and Travelers Group to create the world's largest financial services organization. [126][127][128], In June 2013, Citi sold its remaining 49% stake in Smith Barney to Morgan Stanley Wealth Management for $13.5 billion following an appraisal by Perella Weinberg. Pursuant to Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, publicly traded companies are required to disclose (1) the median total annual compensation of all employees other than the CEO and (2) the ratio of the CEO's annual total compensation to that of the median employee. 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 [83][84][85], The company spun off its Travelers Property and Casualty insurance underwriting business in 2002. The company provides investment banking services to corporate, institutional, government and retail clients in USA and other countries. [211] Citigroup was accused of issuing exaggerated research reports and not disclosing conflicts of interest. [123], On June 1, 2009, it was announced that Citigroup would be removed from the Dow Jones Industrial Average effective June 8, 2009, due to significant government ownership. 12-May-2021. The company will have four months to make a new plan and submit it to the Federal Reserve. . The chairmen of both parent companies, John S. Reed and Sandy Weill respectively, were announced as co-chairmen and co-CEOs of the new company, Citigroup, Inc., although the vast difference in management styles between the two immediately presented question marks over the wisdom of such a setup. 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. [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. SUSAN MILLS VICE PRESIDENT / / DIRECTOR . [citation needed] The 1918 purchase of U.S. overseas bank International Banking Corporation helped it become the first American bank to surpass $1 billion in assets. Barbara Desoer Former Chief Executive Officer, Citibank, N.A. COMPANY TYPE. Posted: January 13, 2023. Without cookies, the site won't function as expected . [68], Joe J. Plumeri worked on the post-merger integration of the two companies and was appointed CEO of Citibank North America by Weill and Reed. 784 jobs. 390 GREENWICH STREET, NEW YORK, NY 10013 . The total settlement with the ten banks was $1.4billion. [196], In February 2012, Citigroup agreed to pay $158.3 million to settle claims that it falsely certified the quality of loans issued by its CitiMortgage unit over a period of more than six years, so that they would qualify for insurance from the Federal Housing Administration. 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. Director jobs 1,374,979 open jobs . 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. The Salomon Smith Barney name was abandoned in October 2003 after a series of financial scandals that tarnished the bank's reputation.[66]. Attorney General Eric H. Holder Jr. said "The bank's misconduct was egregious. c/o Citigroup Global Markets Inc. 388 Greenwich Street . Its non-financial businesses were spun off. Strong understanding of macroeconomics in relation to fixed income markets. Any compensation amount above $500,000 had to be paid with restricted stock that could not be sold by the employee until the emergency government aid was repaid in full. [251], In 2014 Citigroup's PAC contributed $804,000 to campaigns of various members of Congress, i.e. [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. Liked by Maxime Hennequet. In 2009, Japanese regulators again took action against Citibank Japan, because the bank had not set up an effective money laundering monitoring system. Detailed company description & address for Citigroup Capital XIII TruPS Fixed/Fltg. [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. [225], In December 2002, Citigroup paid fines totaling $400million, to states and the federal government as part of a settlement involving charges that ten banks, including Citigroup, deceived investors with biased research. Ethical Analysis of Citigroup 2022-11-07. [191], On June 6, 2007, FInRA announced more than $15million in fines and restitution against Citigroup Global Markets, Inc., to settle charges related to misleading documents and inadequate disclosure in retirement seminars and meetings for BellSouth Corp. employees in North Carolina and South Carolina. With the acquisition, the group became Travelers Inc. Property & casualty and life & annuities underwriting capabilities were added to the business. To corporate, institutional, government and retail clients in USA and other communications ). Banamex and AeroMexico ; and a merchant loyalty program in Europe client worldwide! Ny 10013 of macroeconomics in relation to fixed income Markets 1.66 billion to Enron creditors of issuing exaggerated research and... Company will have four months to make a new plan and submit to... Will be 150,000 square feet of office space on a 19-acre campus use with Microsoft Explorer... 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