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Citigroup was formed on October 8, 1998, following the merger of Citicorp, the bank holding company for Citibank, and Travelers to create the world's largest financial services organization.
Company Origins. Citicorp had its origin in the First Bank of the United States, founded in 1791. Colonel Samuel Osgood, the nation's first postmaster general and treasury commissioner, took over the New York branch of the failing First Bank and reorganized it as the City Bank of New York in 1812.
Citi's private banking roots date back to the 1820s when a predecessor company of today's Citi Trust started managing the accounts of wealthy British and other European families domiciled in the United States.
Learn how Citi, the global bank, serves as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress.
Jun 10, 2024 · Citigroup, American financial services corporation formed in 1998 from the merger of Citicorp (itself a holding company incorporated in 1967) and Travelers Group, Inc. Its headquarters are in New York City. Citigroup’s origins date to the early 19th century.
Sandy Weill served as CEO of Citigroup from 1998 to 2003, a pivotal period for the newly formed financial services giant. Weill was the driving force behind the landmark $140 billion merger of Travelers Group and Citicorp in 1998, which created Citigroup and temporarily overturned the Glass-Steagall Act's separation of commercial and investment ...
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Apr 6, 2018 · Twenty years ago this week, Citicorp — a commercial bank, and Travelers Group — a financial services company, merged to create Citigroup Inc.
