Is Citi a bank?

Citigroup Inc. or Citi ( stylized as citi) is an American multinational investment bank and financial services corporation headquartered in New York City. The company was formed by the merger of banking giant Citicorp and financial conglomerate Travelers Group in 1998; Travelers was subsequently spun off from the company in 2002.

Where is Citigroup headquartered?

Its headquarters are in New York City. Citigroup’s origins date to the early 19th century. In 1811 the U.S. Congress refused to renew the charter of the First Bank of the United States —the country’s central bank, which had branches in cities such as New York.

What is Citi's institutional clients group?

The institutional clients group is the second of Citicorp's divisions. This is where Citi performs its traditional investment banking, such as corporate and securities lending. When Sprint Corp. ( S) merged with Japanese company SoftBank, Citi served as the lead financial advisor. Institutional clients business fell 2% to $9.2 billion in Q3 2018.

When was Citi Bank reorganized?

In 1967 the bank was reorganized under a holding company—the assets of which included the First National City Bank of New York and a finance company, a traveler’s check company, and other related financial operations. The holding company was named Citicorp in 1974, and the banking business took the name Citibank in 1976.