ABOUT THIS COMPANY
Down but not out
Although its official name is Citigroup Inc. and many folks in Europe still refer to it as Citibank, the global banking group based in New York and known throughout the world was rebranded as simply “Citi” back in 2007.
Prior to its rebranding, Citi was revered as the world’s largest banking and financial services group, but the financial storm in the recent past has not been kind to this global giant, which has seen billions of dollars wiped off its market value, endured tens of thousands of employees, been forced to take $45 billion in assistance from the US government and had to resort to selling off assets—including its brokerage arm to longtime rival Morgan Stanley in January 2009.
ABOUT THIS COMPANY
Down but not outAlthough its official name is Citigroup Inc. and many folks in Europe still refer to it as Citibank, the global banking group based in New York and known throughout the world was rebranded as simply “Citi” back in 2007.
Prior to its rebranding, Citi was revered as the world’s largest banking and financial services group, but the financial storm in the recent past has not been kind to this global giant, which has seen billions of dollars wiped off its market value, endured tens of thousands of employees, been forced to take $45 billion in assistance from the US government and had to resort to selling off assets—including its brokerage arm to longtime rival Morgan Stanley in January 2009.
