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Despite its size, it currently only has about a 5 percent market share in financial services, and its amount on deposit is dwarfed by international bank s (especially in Japan), which have seen much more consolidation . Former presidentPresident is a title held by many leaders of organizations, companies, universities, and countries. Etymologically, a "president" is one who presides, who sits in leadership (from Latin prae "before" + sedere "to sit"). Originally, the term usually referr Gerald FordGerald Rudolph Ford, Jr. born July 14, 1913) (born Leslie Lynch King, Jr. renamed after adoption) was the fortieth ( 1973 1974) Vice President and the thirty-eighth ( 1974 1977) President of the United States. He remains the only individual to serve as Pr is on the board of directorsA board of directors is a group of individuals chosen by the stockholders of a company to promote their interests through the goverance of the company. Board members in most legal jurisdictions have specific fiduciary duties, whereby they act for the bene. It is listed at the New York Stock Exchange and is part of the DowThe Dow Jones Industrial Average DJIA is one of several stock market indices created by Wall Street Journal editor and Dow Jones & Company founder Charles Dow. Dow compiled the index as a way to gauge the performance of the industrial component of America.

Citigroup was formed in 1998 by the then-illegal merger of Citicorp (a bank holding company for Citibank) and Travelers Insurance. This was illegal because the Glass-Steagall ActThe Glass-Steagall Act of 1933 was passed in the aftermath of the crash of 1929. The following provisions were enacted: Separated the activities of banks and securities firms (prohibited commercial banks from owning brokerages) Introduced FDIC insurance R ( legislationLegislation refers to the set of statutory laws in a state. Legislation is passed by a legislature and, in some states, must also be confirmed by the executive. When a bill becomes a law the law is said to be 'promulgated' or 'enacted'. For information on stemming from the United StatesThe United States of America also referred to as the United States U. America ¹ or the States is a federal republic in central North America, stretching from the Atlantic in the east to the Pacific Ocean in the west. It shares land borders with Canada in' Great Depression era) did not allow banks to merge with insurance and brokerage companies. (At the time Glass-Steagall's enforcement was already being phased out.) The Federal Reserve granted the parties a two-year trial period prior to the merger, and subsequently Glass-Steagall was invalidated by the passing of the Gramm-Leach-Bliley Financial Services Modernization act of 1999. The merger was orchestrated by chairman Sanford I. Weill. Sallie Krawcheck is CFO and head of strategy. With 275,000 employees CitiGroup manages 200 million customers accounts across six continents in more than 100 countries.

Citigroup removed three senior executives in the wake of a banking scandal in Japan. Deryck Maughan , a Citigroup vice chairman and head of Citigroup International, Thomas W. Jones , chairman and chief executive of the global investment management division, and Peter K. Scaturro , head of Citi's private bank, will be leaving the company. Maughan had been with Citigroup or its predecessor companies since 1983. Jones and Scaturro were both members of the Citigroup management committee. A memo from Chief Executive Charles Prince said that Citigroup President Robert Willumstad would take charge of the businesses run by the three departing executives.

It's most famous office building is the Citigroup Center, a diagonal-roof skyscraper located in New York City's Midtown Manhattan, although it barely has any office presence in there, its headquarters moved across the block to an anonymous building on Park Avenue.