Citi Group – A Brief Assessment

Recent job cut

• April 2007 Citigroup eliminated 17,000 jobs, or about 5% of its workforce
• Jan 2008, it announced another 5% cut.
• Nov 2008, the subprime crisis hit Citigroup with full force, despite its receipt of $25 billion in federal TARP bailout money, and on November 17, 2008 Citigroup announced plans for about 52,000 new job cuts.

Market Performance

• $300B market value in 2006 down 15 times to $21B in 2008

Federal Assistance

• $25B federal TARP bailout money
• $20 direct investment to the company by Federal
• $306B in loans and securities from Federal

Structure - four major divisions:

Global Consumer Group, Global Wealth Management,Citi Institutional Clients Group (newly created in 2007), and Global Cards

• Global Consumer Group: Citi Cards, CitiFinancial and Citibank
• Global Wealth Management: Citi Private Bank, Citi Smith Barney, Citi Investment Research
• Citi Institutional Clients Group: Citi Markets and Banking, Citi Alternative Investments
• Global Cards: all Citi credit cards

Relative hierarchy

Citigroup
         ==> Institutional Clients Group
                   ==> Global Banking
                            ==> Investment Banking

https://icg.citi.com/global_banking/invest_banking.jsp

http://www.oncampus.citi.com/careers/north_america/institutional_clients_group/investment_banking.aspx

or you could be end up with this hierarchy

Citigroup
         ==> Institutional Clients Group
                   ==> Global Markets
                            ==> Global Commodities
                                     ==> Oil & Oil Products

https://icg.citi.com/global_markets/product_solutions/commodities/index.jsp

https://icg.citi.com/global_markets/product_solutions/commodities/oil_products.jsp