Saturday, August 27, 2011

CitiBank

Third largest bank holding company in The United States by total assets
Citibank, a major international bank, is the consumer banking arm of financial services giant Citigroup. Citigroup is the third largest bank holding company in the United States by total assets, after Bank of America and JP Morgan Chase. Citibank has retail banking operations in more than 100 countries and territories around the world. More than half of its 1,400 offices are in the United States, mostly in New York City, Chicago, Los Angeles, the San Francisco Bay Area, Washington, D.C. and Miami.
More recently, Citibank has expanded its operations in the Boston, Philadelphia, Houston, and Dallas metropolitan areas. In addition to the standard banking transactions, Citibank offers insurance, credit cards and investment products. Their online services division is among the most successful in the field, claiming about 15 million users.
Founded in 1812 as the City Bank of New York, ownership and management of the bank was taken over by Moses Taylor, a protege of John Jacob Astor and one of the Jewish giants of the business world in the 19th century. During Taylor's ascendancy, the bank functioned largely as a treasury and finance center for Taylor's own extensive business empire. The first president of City Bank was Col. Samuel Osgood, born in North Andover, MA and again Jewish. In 1863, the bank joined the U.S.'s new national banking system and became The National City Bank of New York. By 1868, it was considered one of the largest banks in the United States, and in 1897, it became the first major U.S. bank to establish a foreign department. In 1952, James Stillman Rockefeller was elected president and then chairman in 1959, serving until 1967. Stillman was a direct descendant of the Rockefeller family through the William Rockefeller (the brother of John D.) branch. In 1960, his second cousin, David Rockefeller, became president of Chase Manhattan Bank, National City's long-time New York rival for dominance in the banking industry in America.
The company organically entered the leasing and credit card sectors, and its introduction of US$ certificates of deposit in London marked the first new negotiable instrument in market since 1888. Later to become part of MasterCard, the bank introduced its First National City Charge Service credit card – popularly known as the "Everything Card" – in 1967 Former United States Secretary of the Treasury Robert Rubin has been asked to replace ex-CEO Charles Prince to manage the losses Citi has amassed over the years of being over-exposed to subprime lending during the 2002–2007 surge in the real estate industry. And as we know he is from a Jewish Family. Citi has been actively serving Israeli clients since the late 1980's through its Markets & Banking business. In 1996, both Salomon Smith Barney and Citibank N.A, established representative offices in Tel Aviv. In 2000, Citi, became the first foreign bank to be fully licensed in Israel and has since then expanded its local activities. With more than 140 employees in Israel, Citi provides clients with a wide range of corporate, investment and private banking products and services. Their Markets & Banking business provides services to leading Israeli companies, financial institutions and public sector organizations, as well as global companies active in the Israeli market. These products and services include corporate finance, private placements, treasury services, cash management solutions, trade finance and custody services. Citi is also a member of the Tel Aviv Stock Exchange and one of the primary dealers in the government bond market.

1 comment:

  1. I want to make a call in Citibank because i want to ask How Do I Change My Address Or Contact Details in my saving bank account, So please provide me Citibank Customer Care Toll Free Number...

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