Talk:Citigroup

Removing promotional material
The following sentence has been snuck into the lead paragraph: "In 2008, Citigroup was crowned Deal of the Year - Debt Market Deal of the Year at the 2008 ALB SE Asia Law Awards, and Deal of the Year - Equity Market Deal of the Year at the 2008 ALB China Law Awards[10]." Sourced to: "www.legalbusinessonline.com.au" (very dubious as it's a blogsite hosted by an Australian SEO Search engine optimization company.)

Accolades and Awards (if not fictious) should be placed in a seperate section if relevant.

Looks like Km206 has been quite a busy boy spamming that SEO hosted blogsite. http://en.wikipedia.org/wiki/Special:Contributions/Km2065 He's added it to hundreds of other articles now. 121.44.25.129 (talk) 03:37, 28 March 2009 (UTC)FredK

April 7, 1998
"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" Sounds incorrect: Gramm-Leach-Bliley Act, passed in 1999, allowed the merger to occur... —Preceding unsigned comment added by 151.196.53.121 (talk) 14:41, 27 February 2009 (UTC)

Question: Where is the Y ?
The Bank was originally the "National City Bank of New York", as seen in the articly. This can be neatly shortened to "Citybank". But it was shortened to "Citibank". Does anyone have an explanaition for that ? I'm puzzled. This is what they have to say:


 * "1976 - The First National City Corporation holding company changes its name to Citicorp to better suit its global businesses."
 * Source: Citigroup Website

I suppose they refer to the shortening of the name and dropping of "national" as better suiting, as i can not conceive how the y>i-change should make any change in citicorps global businesses. I would greatly appreciate an answer. Thank you in advance.--83.189.43.162 23:14, 29 August 2006 (UTC)
 * also interested.--  ExpImp talk con 12:38, 20 October 2006 (UTC)

The Y is at www.citybank.com a bank founded in 1974 two years before Citcorp renamed it's bank.

i think it's just an aesthetic choice, and that it's also to give it more of a proper name than "city bank". this way it's not the group/bank of a city, but rather just citibank as a whole name.24.232.74.200 (talk) 04:44, 21 April 2008 (UTC)

This is closer to the truth about the "Y"
Just MHO, but it has seemed since the Vietnam War that American companies wishing to expand around the world will often drop the English (or rather the American) spelling of their names. This is done, I believe, in the hopes of doing business with the large anti-American segment of European society while still leaving the name sounding phonetically correct to Americans. They pay large salaries to people with Phd's to work out the psychology of this stuff. It's really sad. Do I have proof? No, they wouldn't dare admit it. After all, us war-mongering Americans wouldn't like our largest financial institution trying to distance itself from us. It's just the opinion of someone who has watched America closely since the early 1950s.75.164.145.249 (talk) 15:16, 15 January 2008 (UTC)dwargo

It's because "Citybank" is very confusing. Is it a name? Does it refer to some city's bank? Do I translate it? Bancocuidad? Cuidadbanco? Can I even trademark "City Bank"? Can I start a private postal service called "Local Post Office"? Can I do that in Bangladesh?

Given Europeans' (and Asians') love for everything American, from Apple Inc, Dell, Microsoft and IBM to McDonald's, Burger King, Pizza Hut and Starbucks, I must posit that you are incorrect.

Regards, A European living in Asia who has had citigroup as a customer while working for a large US company.

--GavinZac (talk) 06:20, 20 April 2011 (UTC)

Much more closer to the truth
The Citi in citibank referes to the Citi of London (the british wall street). Many of the National city bank of new york where contributors of the citi's economy and because of that the bankers of the National city bank of new york themselves dare to call it citibank in semi-ironic maner. You can read here List of Chief Executives of Citigroup that Moses Taylor started to call it citibank in a non official reference to the bank. The british where in charge of the bank in a certain sense and because of that it was called citibank. You can listen abouth this in a at the middle of this video (part of a internet documentary called UROKO): http://www.youtube.com/watch?v=tczV8bKSErk&feature=related

Z or S for organization
Organization is spelled with a Z, not an S. This is an American corporation we're talking about, and so it's completely appropriate to write with American spellings.

I hope the ghost of Noah Webster haunts any American who changes the spelling to "organisation." —Preceding unsigned comment added by Chartreuse 1986 (talk • contribs) 17:27, 1 June 2007

How is this an "American" organization? It used to be, but when the single largest shareholder (between 60 and 70 percent) is Prince Al-Waleed bin Talal of Saudi Arabia, it makes it a Saudi Organisation! —Preceding unsigned comment added by 138.88.126.119 (talk) 03:21, 2 October 2007 (UTC)

It has been a long time since this has been an "American" company. It may have it's headquarters in NY, but that doesn't make it an "American" company.75.164.145.249 (talk) 15:21, 15 January 2008 (UTC)dwargo

It's an American company because it was formed in America, as well as it's headquarters is located in the US. Oh and "single largest shareholder (between 60 and 70 percent) is Prince Al-Waleed bin Talal of Saudi Arabia" isn't true. Quit pulling garbage out of your ass. —Preceding unsigned comment added by 67.184.83.213 (talk) 15:06, 6 October 2008 (UTC)

Business issues
For the criticisms section, it seems like its getting very long. Could we fork the section to "Business Issues at Citigroup"? Mbisanz (talk) 22:14, 23 November 2007 (UTC) --JKeene (talk) 00:28, 13 December 2007 (UTC)
 * I'm going to delete most of this section, until reliable sources are provided. Much of it is original research, and the parts that aren't lack any sort of references. All controversial content must provide reliable sources per Wikipedia's verifiability policy, and a criticisms section is very controversial by nature. In addition, it has been tagged as "Unreferenced" since August 2006.

Citicorp Overseas Software Ltd
COSL merged with OrbiTech. Then OrbiTech changed to Polaris. The shareholders' document shows 22% share owned by Citicorp, 20% share owned by OrbiTech A/c Citicorp. Polaris 99.225.137.120 (talk) 07:46, 29 June 2008 (UTC)

Size of the company
From the opening paragraph: "According to Forbes Global 2000 in March 2007, it was the largest company in the world" - yes, but this year it didn't make the top 20. If this source is to be used, it should be the most recent data. Thought it was better to remove it altogether. Wilston (talk) 05:22, 12 August 2008 (UTC)
 * Yeah, definitely better to pull it from the opening paragraph if it's no longer the case. A full explanation of this is a bit too much for a lead section, and should be saved for later in the article. &mdash;/M endaliv /2¢/Δ's/ 08:07, 12 August 2008 (UTC)

Assets
It says that the assets are 2.91 trillion, yet there is no link to that number being cited. Where is that number coming from? 67.184.83.213 (talk) 15:10, 6 October 2008 (UTC)
 * See the footnotes to the infobox. I believe it comes from their SEC filings as quoted on Google Finance. &mdash;/M endaliv /2¢/Δ's/ 20:25, 6 October 2008 (UTC)

Recent Acquisitions
See: http://en.wikipedia.org/wiki/Bank_of_America#History_since_1998, that lists recent acquisitions by Bank of America.

Have the recent acquisitions by Citigroup been listed here? I thought they have made a couple of more major acquisitions recently. —Preceding unsigned comment added by 67.49.11.239 (talk) 07:29, 26 October 2008 (UTC)

Contributions to Global Warming
I'm new to the whole wiki code thing and I was very upset when I learned there was nothing in the criticisms section about Citigroup's current investment with coal mining and destroying the appalachians. I added some information about it from RAM.org and boston.com and was trying to get the reference thingermebobs working when it was removed. Why was it removed? Could anyone help me amend this apparent lack of important information? Here is what was edited out, part of it was at the top to warn people about their actions and I was in the process of creating a criticisms section.

"Currently Citigroup along with Bank of America is funding the contruction of 150 new coal plants in the United States supplied by coal from mountain-mining the appalachians, effectively adding 100 million cars worth of air pollution within a year along with toxic mercury contamination. All ready about 500 appalachian mountains have been decapitated."

http://ran.org/fileadmin/materials/global_finance/publications/Banks_Climate_Change_and_US_Coal_Rush.pdf http://ran.org/campaigns/global_finance/spotlight/coal_is_over_fund_the_future/ http://www.boston.com/news/nation/washington/articles/2007/01/16/banks_are_urged_not_to_finance_coal_power/ —Preceding unsigned comment added by SgtSwashy (talk • contribs) 01:04, 14 November 2008 (UTC)

Or you guys can let companies do whatever they want on wikipedia cause they're rich, thats cool too. Damage control guys. —Preceding unsigned comment added by SgtSwashy (talk • contribs) 00:39, 20 November 2008 (UTC)

I would have to suggest that you read the help section before starting to smear the site with global warming talk. Wikipedia articles don't exist to criticize anyone. It's not going to benefit Wikipedia by posting biased information from websites with an absolute agenda that are against the topic in question. Woods01 (talk) 09:39, 30 April 2009 (UTC)

citigroup logo on this posting
The logo that is currently posted on this page is no longer the Citigroup logo. The "red" umbrella was sold back to Travelers, the new logo is simply a red arch. 66.77.129.3 (talk) 17:07, 26 November 2008 (UTC)lynne Barnard 11/26/200866.77.129.3 (talk)

Need to reiterate that the logo shown on this page is no longer accurate for Citigroup. This needs to be changed to the correct logo which can be seen at http://www.citigroup.com/ Buddhahat (talk) 19:39, 4 March 2009 (UTC)Jerry Blanton 03/04/09

That is definitely true. Could you change the logo or ask another user to do it? 67.171.172.44 (talk) 02:43, 1 April 2009 (UTC)

I don't now how to change the logo, but if you could show me how or give me a link to somewhere in Wikipedia that shows you how to do it, I could change it. 67.171.172.44 (talk) 00:27, 4 April 2009 (UTC)

Cardholder rate increases
I think a good addition should be about the Jan 31st rate increase for all it's card holders (they claim 20% of holders only, but find a holder not jacked by them) some people are seeing 400% or more increase and finance charges, back calculated by 3 months.

Even better there is video of the CEO before congress saying " We will not voluntarily increase the rates or fees on the account until the card expires ... the only reason we would consider increasing the rates or fees before the card expires would be if a cardholder pays Citi late, exceeds the credit limit, or pays with a check that bounces."

76.181.173.128 (talk) 12:09, 2 February 2009 (UTC)

I am a cardholder (two cards actually) and my rates have not increased so I suggest that the "find a cardholder not jacked by them" challenge has been met. Docdave (talk) 02:20, 12 July 2009 (UTC)

Bankruptcy
They just declared bankruptcy. Has this already been added to the article, and I just missed it? 98.89.19.39 (talk) 05:02, 2 November 2009 (UTC)


 * CIT Group declared bankruptcy, not Citigroup. Unless they also declared bankruptcy, but I haven't seen any news of that today. Someguy1221 (talk) 05:06, 2 November 2009 (UTC)

Perhaps someone could add a "Not to be confused with CIT group, another large financial services company." similar to the "Not to be confused with Citigroup, another large financial services company" on the CIT group page? I've seen dozens of confusions today. —Preceding unsigned comment added by 141.219.154.229 (talk) 18:49, 2 November 2009 (UTC)


 * I added it. Someguy1221 (talk) 19:01, 2 November 2009 (UTC)

Hackers steal millions?
I keep hearing on the news that "hackers in Russia" have stolen millions of dollars (Wall Street Journal) from Citigroup, according to the FBI, and that Citigroup is denying that it happened. Why is there nothing yet in the article about this incredible controversy? David spector (talk) 18:35, 22 December 2009 (UTC)

Plutonomy Memo
Should the Plutonomy Memo be in here anywhere?--Dana60Cummins (talk) 06:14, 19 April 2010 (UTC)

Yes. In the Criticisms section. --Why is pizza so good? (talk) 14:18, 19 November 2010 (UTC)

Yes too. In the Criticisms section indeed. — Preceding unsigned comment added by 188.221.77.30 (talk) 21:27, 26 December 2015 (UTC)


 * In 2005-2015 this now relatively oversized section may have made sense, but by 2022 too? Time to trim. Nuts240 (talk) 17:45, 26 June 2022 (UTC)


 * I don't see either good evidence or strong arguments for your deletion of the topic. Inequality is still, or even more, rampant and prominent opinions similar to the plutonomy view are re-surfacing, highlighting the relevance of the section. So unless you can provide a strong evidence/arguments for the irrelevance of the topic in light developments in economic inequality, I would revert your deletion but maybe we get a third opinion on this?4EverStudent (talk) 21:56, 9 May 2023 (UTC)

Updates (July 2010)
Once upon a time (2006?) I had the time/youth to get this article in pretty good shape. Sadly, it seems of have drifted by the wayside, no doubt helped along its way by the sheer quantity of Citi-related information that has developed over the last couple of years. However, there are lots of elements that are presently woefully inaccurate/out of date, particularly in the areas I've just flagged. Sadly working 70 hour weeks mean I don't have the time to make these sorts of updates any more, but if someone more committed out there feels like doing something useful, a cursory trip to citi.com could probably get everything pretty accurately up to speed in not too long a time...  DJR  ( T ) 04:26, 21 July 2010 (UTC)

Revamp Needed
Hello guys. Completely agree with above user. A major clean-up of the article is needed in order to improve its quality and bring it up to speed with recent events. I added an "Organization" section to show how the company is now organized. I kept the "Divisions" section for now although it should be edited at some point in the future as the information is now dated. The UBS article was nicely re-written for example, so I urge users to kindly assist in improving this important article. Doge120 (talk) 19:44, 12 December 2010 (UTC)

Hi folks. I can't edit, as I'm an employee, but FYI... Along the lines of Doge120's comment, Global Wealth Management was dissolved after the sale of Smith Barney to the joint venture between Morgan Stanley and Citi. Citi Private Bank and Citi Investment Research & Analysis have both been moved into Citi's Institutional Clients Group. Best... Dphussey (talk) 00:49, 22 February 2011 (UTC)

Goal: no more dead links; general vote for updating; & kudos
I came here today because I saw the page had a, or some, dead link/s. I was able to rid the article of the two in-text-citation dead links by finding alternatives. (The second is just a hair shaky, switching from IHTribune to NYTimes and with a number-change (supported in the first paragraph) in the headline. I think/hope it's ok but there are quite a number of points where the footnote is used, if someone wanted to check them against the new source. In further support of my hope/thought, I'll add that the new link had the same writer, the same date, and the two papers are co-owned.)

With that as background, I recommend dropping the corporate press-release references at the bottom of the article (dated 2003-05) in Citigroup section (regular footnotes are in Citigroup). A couple of the releases are already identified as dead links. Another came up dead for me (October 20, 2003, audio I think, SWeill mentioned). From what I can see, the corporate website only goes back to 2007, at this archive Investor Relations page. They're maybe dropping old ones on a rolling basis. In any event, none of the ones in the article are supported off that page and I expect they're all dead. And I don't really see their value as raw sources, unconnected to anything in the text. Maybe if SWeill were still in there, but he's not. So I'd say cut them all, and would recommend no more. Then we could move this article off the dead-link roster.

I did do some updating, under history, in light of the "revamp"ing talk here, and the tag at the top of the article. And I add my vote for more of it, in general.

Finally, I did a fair amount in the public/governmental relations section some time ago, created it I think, and was wonderfully gratified to find (and LINK TO!) today Richard F. Hohlt, now with his own Wiki article. I remember being intrigued when I first added him to the article, here, via the Times (often my source). It's so good to see (someone else at) Wiki having taken that next step. The one-shot User:Spramh6, yet. Kudos. Swliv (talk) 20:54, 16 February 2011 (UTC)
 * I removed the outdated corporate press-release links; hopefully the end of dead links for now. Swliv (talk) 01:17, 11 March 2011 (UTC)

Nukes
I added...
 * === Nuclear power ===
 * Citigroup shares, on par with Barclays, the second and third place as biggest bank in the nuclear sector with over € 11,4 billion in investments. BNP Paribas is according to Profundo number one, with over then € 13,5 billion.

...twice to this page, but User:Fat&Happy has deleted it, also twice, first as "rm not reliably sourced" and then as "no reliable secondary sources establishing the facts as being a noteworthy criticism (or even noteworthy for any reason))"

The fact that Citigroup is the world's second bank behind nuclear seems certainly noteworthy to me, and it is well sourced to BankWatch and Profundo, so I don't really see Fat&Happy's argument. Thus some second opinions are welcomed. -- eiland (talk) 20:55, 18 April 2011 (UTC)
 * And it doesn't seem noteworthy to me. So what? Whether either of us thinks it is noteworthy doesn't matter one whit. What reliable secondary sources have written about this as being a noteworthy criticism or controversy. Or, from the other side, a noteworthy accomplishment? The only source cited is a web site apparently self-published by a special-interest advocacy group. As presented, it's a marginally sourced fact(?) of no demonstrated encyclopedic interest. Fat&amp;Happy (talk) 22:50, 18 April 2011 (UTC)


 * Since when is there a wp policy that a source need to be referenced by secondary sources? Its research done by a professional research bureau, commissioned by a, as you call it, special interest advocacy group. So what. I was about to paste their sources, but it would be unappropriate on this page, as it is 25Kb of text. To put it in the WP page with a reference to BankTrack and or Profundo is all we can do. Or... ah... so you dont agree it is critizism, ok Ill put it in an other section -- eiland (talk) 08:15, 19 April 2011 (UTC)
 * The policy is the undue weight portion of NPOV – oversimplified, that things should be covered in proportion to their coverage in reliable sources. You have supplied no indication of such coverage. Adding a new section on "Investment portfolio" for a $2 trillion financial institution, with its sole content being an unreliably sourced claim about its rank as an investor in one randomly selected industry and no indication that this fact has received major coverage is a clear example of undue weight. And saying there are reliable sources for the statements is not the same as providing verifiable sources. The advocacy group's own statement on the methodology indicates all sorts of guesswork and assumptions, and also clearly demonstrates that the characterization of the total amounts as "investments" is inaccurate. I'm tired of typing all the things wrong with this addition, so that's all for now. Fat&amp;Happy (talk) 16:44, 19 April 2011 (UTC)
 * Undue weight is about viewpoints, I don't see how to add the the (considerable size) of their nuclear portfolio can be seen as a 'viewpoint'. I assume that as the article on Citi continues to grow, also other sectors will be added to the portfolio section, and then to start with a 13bn item seems to be reasonable to me. About the relevance of the source, the whole thing about references is that readers of Wikipedia can then judge by themselves if they will accept the fact by looking at the source. We can not do that for them. Also, see, seems not so marginal a research bureau to me. And yes, they are guesstimates, so? Lets add that to the § and make the article grow. -- 07:34, 20 April 2011 (UTC)

Lead
Does anyone think the lead is way too long??? The Sound and the Fury (talk) 00:08, 22 January 2012 (UTC)


 * I hadn't thought about it, but now that you bring it up, yes. Skimming over briefly for now, the third and fourth paragraphs seem bloated with details of what at the time, I'm sure, were fascinating recent developments but should probably be trimmed a couple of years later. Fat&#38;Happy (talk) 02:07, 22 January 2012 (UTC)

Suggestion
Can I delete the 'brands' section and combine the 'organization' section into prose rather than a series of headlines? Any objections? The Sound and the Fury (talk) 12:32, 16 April 2012 (UTC)

Question: how to decide if material belongs here or in Citibank article?
I'm unclear if a consistent policy is being held to about whether particular topics should be covered here, or over in the Citibank article. I'd add a reference to http://oag.ca.gov/news/press-releases/atty-general-brown-forces-settlement-citibank-investigation-reveals-bank-was but I see over in Talk:Citibank that people believe that whole section should be moved to the Citibank article. I'm inexperienced at wikipedia, sorry... what is the policy please? Rad314 (talk) 10:45, 31 August 2012 (UTC)

KtmbGroup
Not to be confused with ktmb Group, another large financial services company or ktmbmGroup, an international financial company.


 * name = ktmbGroup Inc.

200px
 * logo =

S&P 500 Component |predecessor = ktmbcorp Travelers Group |foundation = June 16, 1812[1] |industry = Banking, Financial services |location_city = 399 Park Avenue, Manhattan, New York City, New York |location_country = U.S. |area_served = Worldwide
 * type = Public |traded_as = NYSE: C


 * key_people =

Michael E. O'Neill[2] (Chairman) Michael Corbat (CEO)


 * products = Credit cards, consumer banking, corporate banking, investment banking, global wealth management, financial analysis, private equity |revenue = Increase US$ 76.36 billion (2013)[3] |operating_income = Increase US$ 19.49 billion (2013)[3] |net_income = Increase US$ 13.67 billion (2013)[3] |assets = Increase US$ 1.880 trillion (2013)[3] |equity = Increase US$ 204.3 billion (2013)[3] |num_employees = 251,000 (Dec 2013)[3] |subsid = ktmbbank India, Banamex, ktmbMortgage, ktmbbank, ktmbBranded Cards, ktmb Private Bank, ktmb Securities & Banking, Nikko ktmbGroup, Railmark Holdings, Salomon BIG, Sedna Finance |homepage = ktmbGroup.com }}

ktmbGroup Inc. or ktmb is an American multinational financial services corporation headquartered in Manhattan, New York City. ktmbGroup was formed from one of the world's largest mergers in history by combining the banking giant ktmbcorp and financial conglomerate Travelers Group in October 1998 (announced on April 7, 1998).[4][5][6] The year 2012 marked ktmb's 200th anniversary. It is currently the third largest bank holding company in the United States by assets. Its largest shareholders include funds from the Middle East and Singapore.[7]

ktmbGroup has the world's largest financial services network, spanning 140 countries with approximately 16,000 offices worldwide. It also holds over 200 million customer accounts in more than 140 countries. It is one of the primary dealers in US Treasury securities.[8] According to Forbes, at its height ktmbGroup used to be the largest company and bank in the world by total assets with 357,000 employees until the global financial crisis of 2008.[9] Today it is ranked 20th in size under the Fortune 500 list. In comparison, JPMorgan Chase, which is ranked 16th on the Fortune 500, is now the largest bank in U.S. as of 2012.[10]

ktmbGroup suffered huge losses during the global financial crisis of 2008 and was rescued in November 2008 in a massive stimulus package by the U.S. government.[11] On February 27, 2009, ktmbGroup announced that the United States government would take a 36% equity stake in the company by converting US$25 billion in emergency aid into common stock with a US Treasury credit line of $45 billion to prevent the bankruptcy of the largest bank in the world at the time.[12] The government guaranteed losses on more than $300 billion troubled assets and injected $20 billion immediately into the company. In exchange, the salary of the CEO was $1 per year and the highest salary of employees was restricted to $500,000 in cash and any amount above $500,000 had to be paid with restricted stock that could not be sold until the emergency government aid was repaid in full.[13] The US government also gained control of half the seats in the Board of Directors, and the senior management was subjected to removal by the US government if there were poor performance. By December 2009, the US government stake was reduced to 27% majority stake from a 36% majority stake after ktmbGroup sold $21 billion of common shares and equity in the largest single share sale in US history, surpassing Bank of America's $19 billion share sale one month prior. Eventually by December 2010, ktmbGroup repaid the emergency aid in full and the US government received an additional $12 billion profit in selling its shares.[14][15][16][17][18] US Government restrictions on pay and oversight of the senior management were removed after the US government sold its remaining 27% stake as of December 2010.

Despite huge losses during the global financial crisis, ktmbGroup built up an enormous cash reserve in the wake of the financial crisis with $420 billion in surplus liquid cash and government securities as of June 2012.[19] As of Q1 2012, ktmb has tier 1 capital ratio of 12.4%, making one of the best-capitalized financial institutions in the world after billions of dollars in losses from the financial crisis.[20] This was a result of selling more than $500 billion of its special assets placed in ktmb Holdings, which were guaranteed from losses by the US Treasury while under federal majority ownership.[21] Additionally, according to The Washington Post, a special IRS tax exception given to ktmb to allow the US Treasury to sell its shares at a profit while it still owned ktmbGroup shares, which eventually netted $12 billion. According to Treasury spokeswoman Nayyera Haq, "This (IRS tax) rule was designed to stop corporate raiders from using loss corporations to evade taxes, and was never intended to address the unprecedented situation where the government owned shares in banks. And it was certainly not written to prevent the government from selling its shares for a profit."[22]

ktmbGroup is one of the Big Four banks in the United States, along with Bank of America, JP Morgan Chase and Wells Fargo.[23][24][25][26][27][28][29] Contents

1 History 1.1 ktmbcorp 1.2 Travelers Group 1.3 ktmbcorp and Travelers merger 1.4 2002 Travelers spin off 1.5 January 2008 Subprime Mortgage Crisis 1.6 November 2008, Collapse & US Government Intervention (part of the Global Financial Crisis) 1.7 January 2009 - February 2009, Creation of ktmb Holdings (part of the Global Financial Crisis) 1.8 2010, Return to profitability, non-governmental shareholder ownership 1.9 2012, First failed Federal Reserve stress test 1.10 2014, Second failed Federal Reserve stress test 2 Businesses 2.1 Global Consumer Banking 2.2 Institutional Clients Group 2.3 ktmb Holdings 2.4 Spin-offs 3 Real estate 4 Criticism 4.1 Raul Salinas and alleged money laundering 4.2 Conflicts of interest on investment research 4.3 Enron, WorldCom and Global Crossing bankruptcies 4.4 ktmbGroup proprietary government bond trading scandal of 2004 4.5 November 2008 funding by the Government 4.6 Regulatory, lawsuit and panel awards against the company 4.7 Terra Securities scandal 4.8 Allegations of theft from customer accounts 4.9 Bonuses controversy 4.10 Potential restructuring and liquidation by the Government 4.11 Shareholder rejection of executive compensation plan 5 Public and government relations 5.1 Political donations 5.2 Lobbying and political advice 5.3 Public and governmental relations 6 See also 7 References 8 Further reading 9 External links

History File:Ktmb.svg The ktmbGroup logo, 1999–2007, 2012–present File:KtmbGroup.svg The ktmbGroup logo, 2007–2011

ktmbGroup was formed on October 9, 1998, following the $140 billion merger of ktmbcorp and Travelers Group to create the world's largest financial services organization.[6] The history of the company is, thus, divided into the workings of several firms that over time amalgamated into ktmbcorp, a multinational banking corporation operating in more than 100 countries; or Travelers Group, whose businesses covered credit services, consumer finance, brokerage, and insurance. As such, the company history dates back to the founding of: the City Bank of New York (later ktmbbank) in 1812; Bank Handlowy in 1870; Smith Barney in 1873, Banamex in 1884; Salomon Brothers in 1910.[30] ktmbcorp

City Bank of New York was chartered by New York State on June 16, 1812, with $2 million of capital. Serving a group of New York merchants, the bank opened for business on September 14 of that year, and Samuel Osgood was elected as the first President of the company.[31] The company's name was changed to The National City Bank of New York in 1865 after it joined the new U.S. national banking system, and it became the largest American bank by 1895.[31] It became the first contributor to the Federal Reserve Bank of New York in 1913, and the following year it inaugurated the first overseas branch of a U.S. bank in Buenos Aires, although the bank had, since the mid-19th century, been active in plantation economies, such as the Cuban sugar industry. The 1918 purchase of U.S. overseas bank International Banking Corporation helped it become the first American bank to surpass $1 billion in assets, and it became the largest commercial bank in the world in 1929.[31] As it grew, the bank became a leading innovator in financial services, becoming the first major U.S. bank to offer compound interest on savings (1921); unsecured personal loans (1928); customer checking accounts (1936) and the negotiable certificate of deposit (1961).[31][32][33]

The bank changed its name to The First National City Bank of New York in 1955, which was shortened in 1962 to First National City Bank on the 150th anniversary of the company's foundation.[31] The company organically entered the leasing and credit card sectors, and its introduction of U.S. dollar–denominated certificates of deposit in London marked the first new negotiable instrument in market since 1888. The bank introduced its First National City Charge Service credit card—popularly known as the "Everything card" and later to become MasterCard—in 1967.[31]

In 1976, under the leadership of CEO Walter B. Wriston, First National City Bank (and its holding company First National City Corporation) was renamed as ktmbbank, N.A. (and ktmbcorp, respectively). Shortly afterward, the bank launched the ktmbcard, which pioneered the use of 24-hour ATMs.[31] John S. Reed was elected CEO in 1984, and ktmb became a founding member of the CHAPS clearing house in London. Under his leadership, the next 14 years would see ktmbbank become the largest bank in the United States and the largest issuer of credit cards and charge cards in the world, and expand its global reach to over 90 countries.[31][32][34] Travelers Group The corporate logo of Travelers Inc. (1993–1998) prior to merger with ktmbcorp.

Travelers Group, at the time of merger, was a diverse group of financial concerns that had been brought together under CEO Sandy Weill. Its roots came from Commercial Credit, a subsidiary of Control Data Corporation that was taken private by Weill in November 1986 after taking charge of the company earlier that year.[6][35] Two years later, Weill mastered the buyout of Primerica—a conglomerate that had already bought life insurer A L Williams as well as stock broker Smith Barney. The new company took the Primerica name, and employed a "cross-selling" strategy such that each of the entities within the parent company aimed to sell each other's services. Its non-financial businesses were spun-off.[35]

In September 1992, Travelers Insurance, which had suffered from poor real estate investments[6] and sustained significant losses in the aftermath of Hurricane Andrew,[36] formed a strategic alliance with Primerica that would lead to its amalgamation into a single company in December 1993. With the acquisition, the group became Travelers Inc. Property & casualty and life & annuities underwriting capabilities were added to the business.[35] 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. During this period, Travelers acquired Shearson Lehman—a retail brokerage and asset management firm that was headed by Weill until 1985[6]—and merged it with Smith Barney.[35] Salomon Brothers

Finally, in November 1997, Travelers Group (which had been renamed again in April 1995 when they merged with Aetna Property and Casualty, Inc.), made the $9 billion deal to purchase Salomon Brothers, a major bond dealer and bulge bracket investment bank.[35][37] 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. Salomon Brothers absorbed Smith Barney into the new securities unit termed Salomon Smith Barney; a year later, the division incorporated ktmbcorp's former securities operations as well. The Salomon Smith Barney name was ultimately abandoned in October 2003 after a series of financial scandals that tarnished the bank's reputation.[citation needed] ktmbcorp and Travelers merger

On April 6, 1998, the merger between ktmbcorp and Travelers Group was announced to the world, creating a $140 billion firm with assets of almost $700 billion.[6] The deal would enable Travelers to market mutual funds and insurance to ktmbcorp's retail customers while giving the banking divisions access to an expanded client base of investors and insurance buyers.

Although presented as a merger, the deal was actually more like a stock swap, with Travelers Group purchasing the entirety of ktmbcorp shares for $70 billion, and issuing 2.5 new ktmbGroup shares for each ktmbcorp share. Through this mechanism, existing shareholders of each company owned about half of the new firm.[6] While the new company maintained ktmbcorp's "ktmb" brand in its name, it adopted Travelers' distinctive "red umbrella" as the new corporate logo, which was used until 2007.

The chairmen of both parent companies, John Reed and Sandy Weill respectively, were announced as co-chairmen and co-CEOs of the new company, ktmbGroup, Inc., although the vast difference in management styles between the two immediately presented question marks over the wisdom of such a setup.

The remaining provisions of the Glass–Steagall Act—enacted following the Great Depression—forbade banks to merge with insurance underwriters, and meant ktmbGroup had between two and five years to divest any prohibited assets. However, Weill stated at the time of the merger that they believed "that over that time the legislation will change...we have had enough discussions to believe this will not be a problem".[6] Indeed, the passing of the Gramm-Leach-Bliley Act in November 1999 vindicated Reed and Weill's views, opening the door to financial services conglomerates offering a mix of commercial banking, investment banking, insurance underwriting and brokerage.[38]

Joe Plumeri headed the integration of the consumer businesses of Travelers Group and ktmbcorp after the merger, and was appointed CEO of ktmbbank North America by Weill and Reed.[39][40] He oversaw its network of 450 retail branches.[40][41][42] J. Paul Newsome, an analyst with CIBC Oppenheimer, said: "He's not the spit-and-polish executive many people expected. He's rough on the edges. But ktmbbank knows the bank as an institution is in trouble—it can't get away anymore with passive selling—and Plumeri has all the passion to throw a glass of cold water on the bank."[43] It was conjectured that he might become a leading contender to run all of ktmbGroup when Weill and Reed stepped down, if he were to effect a big, noticeable victory at ktmbbank.[43] In that position, Plumeri boosted the unit's earnings from $108 million to $415 million in one year, an increase of nearly 300%.[44][45][46] He unexpectedly retired from ktmbbank, however, in January 2000.[47][48]

In 2000, ktmbGroup acquired Associates First Capital Corporation, which, until 1989, had been owned by Gulf+Western (now part of National Amusements).[49] The Associates was widely criticized for predatory lending practices and ktmb eventually settled with the Federal Trade Commission by agreeing to pay $240 million 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.[50][51]

In 2001, ktmbGroup made additional acquisitions: European American Bank, in July, for $1.9 billion,[52] and Banamex (assisted by independent adviser, Windsor Capital Investments Limited) in August, for $12.5 billion.[53] 2002 Travelers spin off The current logo for Travelers Companies

The company spun off its Travelers Property and Casualty insurance underwriting business in 2002.[54] The spin off was prompted by the insurance unit's drag on ktmbGroup stock price because Traveler's earnings were more seasonal and vulnerable to large disasters, particularly the September 11, 2001 attacks on the World Trade Center in downtown New York City. It was also difficult to sell this kind of insurance directly to customers since most industrial customers are accustomed to purchasing insurance through a broker.

The Travelers Property Casualty Corporation merged with The St. Paul Companies Inc. in 2004 forming The St. Paul Travelers Companies.[55] ktmbGroup retained the life insurance and annuities underwriting business; however, it sold those businesses to MetLife in 2005.[56] ktmbGroup still heavily sells all forms of insurance, but it no longer underwrites insurance.

In spite of their divesting Travelers Insurance, ktmbGroup retained Travelers' signature red umbrella logo as its own until February 2007, when ktmbGroup agreed to sell the logo back to St. Paul Travelers,[57] which renamed itself Travelers Companies. ktmbGroup also decided to adopt the corporate brand "ktmb" for itself and virtually all its subsidiaries, except Primerica and Banamex. January 2008 Subprime Mortgage Crisis

Heavy exposure to troubled mortgages in the form of collateralized debt obligation (CDOs), compounded by poor risk management led ktmbGroup into trouble as the subprime mortgage crisis worsened 2008. The company had used elaborate mathematical risk models which looked at mortgages in particular geographical areas, but never included the possibility of a national housing downturn, or the prospect that millions of mortgage holders would default on their mortgages. Trading head Thomas Maheras was close friends with senior risk officer David Bushnell, which undermined risk oversight.[58][59] As Treasury Secretary, Robert Rubin was said to be influential in lifting the regulations that allowed Travelers and ktmbcorp to merge in 1998. Then on the board of directors of ktmbGroup, Rubin and Charles Prince were said to be influential in pushing the company towards MBS and CDOs in the subprime mortgage market.

Starting in June 2006, Senior Vice President Richard M. Bowen III, the chief underwriter of ktmbGroup's Consumer Lending Group, began warning the board of directors about the extreme risks being taken on by the mortgage operation that could potentially result in massive losses. The group bought and sold $90 billion of residential mortgages annually. Bowen's responsibility was essentially to serve as the quality control supervisor ensuring the unit's creditworthiness. When Bowen first blew the whistle in 2006, 60% of the mortgages were defective. The amount of bad mortgages began increasing throughout 2007 and eventually exceeded 80% of the volume. Many of the mortgages were not only defective, but were fraudulent. Bowen attempted to rouse the board via weekly reports and other communications. On 3 November 2007, Bowen emailed ktmbGroup 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 subsequent investigation revealed that at the Consumer Lending Group had suffered a breakdown of internal controls since 2005. Regardless of the findings of the investigation, Bowen's charges were ignored, despite the fact that withholding such information from shareholders violated the Sarbannes-Oxley Act (SOX), which he had pointed out. ktmbGroup CEO Charles Prince signed a certification that the bank was in compliance with SOX despite Bowen revealing this wasn't so. ktmbGroup eventually stripped Bowen of most of his responsibilities and informing him that his physical presence was no longer required at the bank. The Financial Crisis Inquiry Commission asked him to testify about ktmbGroup's role in the mortgage crisis, and he did so, appearing as one of the first witnesses before the Commission in April 2010.[60][61]

As the crisis began to unfold, ktmbGroup announced on April 11, 2007, that it would eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock.[62] Even after securities and brokerage firm Bear Stearns ran into serious trouble in summer 2007, ktmbGroup decided the possibility of trouble with its CDO's was so tiny (less than 1/100 of 1%) that they excluded them from their risk analysis. With the crisis worsening, ktmbGroup announced on January 7, 2008 that it was considering cutting another 5 percent to 10 percent of its 327,000 member-workforce.[63][64] November 2008, Collapse & US Government Intervention (part of the Global Financial Crisis)

By November 2008, ktmbGroup was insolvent, despite its receipt of $25 billion in tax-payer funded federal Troubled Asset Relief Program funds. On November 17, 2008, ktmbGroup announced plans for about 52,000 new job cuts, on top of 23,000 cuts already made during 2008 in a huge job cull resulting from four quarters of consecutive losses and reports that it was unlikely to be in profit again before 2010. 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.[65] Eventually staff cuts totaled over 100,000 employees.[66] Its stock market value dropped to $20.5 billion, down from $244 billion two years earlier.[65] Shares of ktmbGroup common stock traded well below $1.00 on the New York Stock Exchange.

As a result, late in the evening on November 23, 2008, ktmbGroup and Federal regulators approved a plan to stabilize the company and forestall a further deterioration in the company's value. On November 24, 2008, the U.S. government announced a massive stimulus package for ktmbGroup designed to rescue the company from bankruptcy while giving the government a major say in its operations. A joint statement by the US Treasury Department, the Federal Reserve and the Federal Deposit Insurance Corp announced: "With these transactions, the U.S. government is taking the actions necessary to strengthen the financial system and protect U.S. taxpayers and the U.S. economy."[67][68] The arrangement calls for the government to back about $306 billion in loans and securities and directly invest about $20 billion in the company. The Treasury would provide $20 billion in Troubled Asset Relief Program (TARP) funds in addition to $25 billion given in October. The Treasury Department, the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) would cover 90% of the losses on its $335 billion portfolio after ktmbGroup absorbed the first $29 billion in losses.[69] The assets remain on ktmbGroup's balance sheet; the technical term for this arrangement is ring fencing.

In return the bank would give Washington $27 billion of preferred shares and warrants to acquire stock. The government would obtain wide powers over banking operations. ktmbGroup agreed to try to modify mortgages, using standards set up by the FDIC after the collapse of IndyMac Bank, with the goal of keeping as many homeowners as possible in their houses. Executive salaries would be capped[70] As a condition of the federal assistance, ktmbGroup's dividend payment was reduced to one cent per share. January 2009 - February 2009, Creation of ktmb Holdings (part of the Global Financial Crisis)

On January 16, 2009, ktmbGroup announced its intention to reorganize itself into two operating units: ktmbcorp for its retail and institutional client business, and ktmb Holdings for its brokerage and asset management.[71] ktmbGroup will continue to operate as a single company for the time being, but ktmb Holdings managers will be tasked to "tak[e] advantage of value-enhancing disposition and combination opportunities as they emerge",[71] and eventual spin-offs or mergers involving either operating unit were not ruled out.[72] On February 27, 2009 ktmbGroup announced that the United States government would be taking a 36% equity stake in the company by converting $25 billion in emergency aid into common shares. ktmbGroup shares dropped 40% on the news.

On June 1, 2009, it was announced that ktmbGroup would be removed from the Dow Jones Industrial Average effective June 8, 2009, due to significant government ownership. ktmbGroup was replaced by Travelers Co.[73] 2010, Return to profitability, non-governmental shareholder ownership

In 2010, ktmbGroup achieved its first profitable year since 2007. It reported $10.6 billion in net profit, compared with a $1.6 billion loss in 2009.[74] Late in 2010, the government sold its remaining stock holding in the company, yielding an overall net profit to taxpayers of $12 billion.[75] 2012, First failed Federal Reserve stress test

On Tuesday, March 13, 2012, the Federal Reserve reported ktmbGroup is one of the four financial institutions, out of 19 major banks, that have failed its stress tests. The tests make sure banks have enough capital to withstand huge losses in a financial crisis like one ktmbGroup faced in 2008 and early 2009 when it almost collapsed. The 2012 stress tests determine whether banks could withstand a financial crisis that has unemployment at 13 percent, stock prices to be cut in half, and home prices decreased by 21 percent from current levels.[76][77] According to ktmb and the Federal Reserve stress test report, ktmb failed the Fed stress tests due to ktmb's high capital return plan and its international loans rated by the Fed to be at higher risk than its domestic American loans.[78][79][80][81] ktmb gets half their revenues from its international businesses. In comparison, Bank Of America, which passed the stress test and did not ask for a capital return to investors, gets 78% of its revenue in the United States.[82] 2014, Second failed Federal Reserve stress test

On Wednesday, March 26, 2014, the Federal Reserve reported ktmbGroup is one of the five financial institutions that have failed its stress tests. Unlike the failed stress test in 2012, the Fed failed ktmbGroup on qualitative concerns that were left unresolved despite regulatory warnings versus quantitative calculations. The report specifically states as quoted that ktmbGroup failed "to project revenues and losses under a stressful scenario for material parts of the firm's global operations and its ability to develop scenarios for its internal stress testing that adequately reflects its full range business activities and exposures." The Fed did not state the $400 million fraud at Oceanografia, which forced ktmbGroup to revise to lower earnings, as a reason.[83][84][85] Businesses

ktmb is organized into two major segments – ktmbcorp and ktmb Holdings.[86][87] ktmbcorp contains two core businesses, i.e. Global Consumer Banking[88] and Institutional Clients Group,[89] while ktmb Holdings contains ktmb's non-core businesses, i.e. Brokerage and Asset Management (formerly includes Smith Barney), Global Consumer Finance, and ktmb's Special Asset Portfolios.[90] Global Consumer Banking

ktmb's Global Consumer Banking (GCB) business, also called Regional Consumer Banking (RCB), is one of the largest retail banks in the world. It serves more than 100 million clients in 40 countries. Its revenues consists of 50% of the total revenue within ktmbcorp in 2011. Its deposits accounts for 40% of its total deposits. ktmb's GCB business consists of five divisions: ktmbbank (Retail Banking), ktmb Branded Cards, ktmb Retail Services (formerly ktmb Retail Partner Cards), ktmb Commercial Bank and ktmbMortgage. ktmbbank (Retail Banking)

Retail banking encompasses the ktmb's global branch network, branded ktmbbank. ktmbbank has more than 4,600 branches in the world and holds more than $300 billion deposits. ktmbbank is the third largest retail bank in the United States based on deposits, and it has ktmbbank branded branches in countries throughout the world, with the exception of Mexico which is under a separate subsidiary called Banamex. Banamex, which serves about 20 million clients, is Mexico's largest local financial institution as measured by assets. ktmbbank offers ktmbbank/ktmbgold Checking and Savings accounts, Small Business and Commercial Banking and Personal Wealth Management among its services. In 2011, ktmb is the first bank to introduce digitized Smart Banking branches in Washington, D.C., New York, Tokyo and Busan (South Korea) while continued renovating its entire branch network.[91][92] New sales and service centers were also opened in Moscow and St. Petersburg. ktmb Express modules, 24-hour service units, were introduced in Colombia. ktmb recently opened new branches in three new ktmbes in China as part of its plan to expand ktmb's presence in People's Republic of China to 13 ktmbes.

Additionally, ktmbbank offers ktmbgold services world-wide to mass affluent clients with at least $50,000 USD in liquid assets. In certain markets, ktmbgold Select is available for clients with at least $500,000 in liquid assets.[93] Its highest tiered service, ktmbgold Private Client, is for high net worth individuals with at least $1–$3 million in liquid assets (depending on the market region) and offers access to investments and ideas from ktmb Private Bank.[94][95][96][97][98] ktmb Branded Cards

ktmb Branded Cards is one of the world's largest credit card issuers. ktmb Branded Cards is responsible for around 40% of the profits with GCB, and represents the largest issuer of credit cards across the world as well as a 3,800-point ATM network across 45 countries. ktmb Branded Cards introduced several new products in 2011, including: ktmb ThankYou, ktmb Executive/AAdvantage and ktmb Simplicity cards in the U.S.. It also has Latin America partnership cards with Colombia-based airline Avianca and with Banamex and AeroMexico; and a merchant loyalty program in Europe. ktmbbank is also the first and currently the only international bank to be approved by Chinese regulators to issue credit cards under its own brand without cooperating with Chinese state-owned domestic banks.[99] ktmb Retail Services

ktmb Retail Services (formerly Retail Partner Cards) moved from ktmb Holdings to become an integral part of GCB in 2012, after expanding several existing partnerships with retail clients and re-branding to "reflect the more comprehensive suite of services it offers to partners".[citation needed] It is one of the largest providers of consumer and commercial credit card products, services, and retail solutions in the U.S., with nearly 90 million accounts with brands such as The Home Depot, Macy's, Sears, Shell, and ExxonMobil.[citation needed] ktmb Commercial Bank

Commercial Banking at ktmb serves 100,000 small to medium-size companies in 32 countries.[100] ktmbMortgage

ktmbMortgage services real estate mortgages.[101][102] Institutional Clients Group

ktmb's Institutional Clients Group (ICG) offers investment and corporate banking services and products for corporates, governments, institutions, and ultra high-net-worth investors.

Containing ktmb's most market-sensitive divisions, ICG consists of four main divisions: ktmb Markets (includes Capital Markets Origination and ktmb Research), ktmb Corporate & Investment Banking, ktmb Private Bank, and ktmb Transaction Services. ktmb Markets

ktmb Markets, also known as ktmb Global Markets, provides financial products through underwriting, sales & trading of a range of investment assets. ktmb markets products offered include equities, commodities, credit, futures, foreign exchange (FX), emerging markets, G10 rates, municipals, prime finance/brokerage services, and securitized markets, such as collateralized debt obligations and mortgage-backed securities.[103]

ktmb Research, formerly ktmb Investment Research and Analysis (CIRA) division and part of ktmb's Global Wealth Management unit, provides equity and fixed income research, company, sector, economic and geographic market analysis, and product-specific analysis for ktmb's individual and institutional clients. Its flagship research reports include the following: Portfolio Strategist, Bond Market Roundup, U.S. Economics Weekly, International Market Roundup, Global Economic Outlook & Strategy and the Global Equity Strategist.[104] ktmb Corporate & Investment Banking

ktmb Corporate & Investment Banking provides strategic and financing products and advisory services to multinational and local corporations, financial institutions, governments, and privately held businesses in more than 160 countries. ktmb Corporate & Investment Banking won several awards in 2011, including International Financing Review's Best Americas Securitization for Ford Credit, Best Emerging Asia Bond for Pertamina, Best Latin America Bond for Petrobras, Best Emerging EMEA Bond for VimpelCom, Best Yen Bond for Panasonic, Best Senior Financial Bond for Capital One and Best Americas Structure Equity Issue for AIB/MetLife.[105] ktmb Private Bank File:Ktmb Private Bank Office.jpg A ktmb Private Bank Office

ktmb Private Bank is an advisor to ultra high net worth individuals and families throughout the world. It uses an open architecture network of more than 1,000 private bankers and investment professionals across 46 countries and jurisdictions to provide clients access to global investment opportunities. It has about $250 billion in assets under management. The minimum net worth requirement is $25 million in liquid assets and is waived for only law firm groups and other clients under special circumstances.[106]

Formerly part of Global Wealth Management, ktmb Private Bank is now merged into ktmb's Institutional Clients Group. Unlike many of its competitors, since 2009 ktmb Private Bank no longer pays its bankers with commission for selling investment products. Former CEO of ktmb Private Bank, Jane Fraser, said the move meant to bolster ktmb Private Bank as an independent wealth management adviser, as opposed to a product pusher.[107][108] ktmb Transaction Services

ktmb Transaction Services (CTS),[109] formerly known as Global Transaction Services (GTS), provides cash management, trade and securities services to companies, governments and other institutions in the U.S. and more than 140 countries. It consists of Treasury & Trade Solutions (TTS)[110] and Securities & Fund Services (SFS).[111]

CTS intermediates more than $3 trillion in global transactions daily. It has over $13 trillion assets under custody, about $377 billion in average liability balances, serves 99% of world's Fortune 100 companies and 96% of the world's Fortune 500 companies, and has 10 regional processing centers worldwide using global processes.

Institutions use CTS to support their treasury operations with global solutions for payments, collections, liquidity and investments by working in partnership with export credit agencies and development banks. It also sells supply chain financing products as well as medium- and long-term global financing programs across multiple industries. In 2011, clients doing business with ktmb in 10 or more countries generated more than 60 percent of Transaction Services' total revenues. According to the Wall Street Journal, the government aid provided to ktmb in 2008/2009 was provided to prevent a world-wide chaos and panic by the potential collapse of its Global Transactions Services (now CTS) division. According to the article, former CEO Pandit said if ktmbGroup was allowed to unravel into bankruptcy, "100 governments around the world would be trying to figure out how to pay their employees".[112][113][114][115][116] ktmb Holdings

ktmb Holdings consists of ktmb — Preceding unsigned comment added by OfficalBankKtmb (talk • contribs) 19:33, 2 June 2014 (UTC)

Revolving door with Federal Government
There should be a section discussing the intimate relation between the bank and the federal government. This should list the persons who have recently (last 20 years) served in top positions in both (eg Rubin). There should also be discussion of the fact that Citi wrote a section of the 2014 Omnibus Spending bill that rolls back a key Dodd-Frank provision that stopped Federal subsidy of Citi's speculations.Paulhummerman (talk) 13:21, 15 December 2014 (UTC)

Copyright problem removed
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External links modified
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Request an Update to the Global Corporate Headquarters Address for Citigroup
My name is Michael and I work with Citi. I would like to request an update to the global corporate headquarters address from 399 Park Ave. to 388 Greenwich. The current entry has a reference about the move already (reference #134) and would like the rest of the page to accurately reflect the updated address.

Thanks 17:55, 3 May 2016 (UTC)

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Pay ratio -- add to info box
I would like to see the pay ratio, and possibly associated data like median pay and CEO pay added to the infobox. I have mentioned this article here where I requested a "pay ratio" parameter be added to the infobox for that purpose: Template_talk:Infobox_company. --David Tornheim (talk) 13:49, 28 May 2019 (UTC)

Exit from 13 countries
userpage 21:39, 16 April 2021 (UTC) userpage 21:42, 16 April 2021 (UTC)
 * Citi to Exit Retail Banking in 13 Markets Across Asia, Europe (Bloomberg) Citigroup to exit consumer banking in 13 markets (BBC)  TheKuygerian  contribs
 * Ah sorry, don't mind this. TheKuygerian  contribs

Intention to remove what appears to not be Citi news, possible spam
The purchase of Avenue Pictures and Virgin Vision / Jonathan D. Krane. $50mm? $25mm? Amidst Billions of dollars? Nuts240 (talk) 10:31, 26 June 2022 (UTC)

Intention to work on hatnotes atop Criticism

 * Undue weight: Although the Plutonomy subsection is no longer leaning to capsize this section, some other subsections need a bit more work.
 * NPOV: this may need another pair of eyes, perhaps even my own, but only after some shuteye. Nuts240 (talk) 02:36, 27 June 2022 (UTC)

The section's hatnotes no longer apply. One has been removed. Time to remove the second one too- the article is no longer topheavy with the ubsections that have been trimmed, and the use of BackLinks (as noted in a June 28 edit summary) also provides additional balance/re NPOV. Nuts240 (talk) 07:31, 29 June 2022 (UTC)

Intention to delete re Potential restructuring
The section is about how someone wrote that someone in office said. . . and ends on "there was fortunately never a need to put them in place." That means that fortunately there's an easy solution: delete this, and leave a link to it here. Nuts240 (talk) 16:14, 27 June 2022 (UTC)

"United Bank of Arizona" listed at Redirects for discussion
An editor has identified a potential problem with the redirect United Bank of Arizona and has thus listed it for discussion. This discussion will occur at Redirects for discussion/Log/2022 November 10 until a consensus is reached, and readers of this page are welcome to contribute to the discussion. Steel1943 (talk) 22:55, 10 November 2022 (UTC)

RFC: Who the founders are of merged banks
See discussion here.  Imcdc  Contact  02:00, 2 June 2024 (UTC)

At the link provided above, Imcdc has opened a debate regarding which figures (if any) should qualify as Citigroup's founders. If you have any thoughts on the matter, please take a moment to share your opinions there.Emiya1980 (talk) 03:57, 2 June 2024 (UTC)


 * Emiya1980 (talk) 06:54, 2 June 2024 (UTC)