Definitions
Citigroup Inc. (branded Citi), is a major American financial services company based in New York, NY. Citigroup was formed from one of the world’s largest mergers in history by combining the banking giant Citicorp and financial conglomerate Travelers Group on April 7, 1998. Citigroup Inc. has the world’s largest financial services network, spanning 140 countries with approximately 16,000 offices worldwide and employs approximately 322,000 staff around the world.
It is the world’s largest bank by total customers & worldwide branch network as of 2009. It is a primary dealer in US Treasury securities. Citigroup suffered huge losses during the global financial crisis of 2008 and was rescued in November 2008 in a massive bailout by the U.S. government.