1. Citibank Citibank was formed by the merger of Citibank of new york and First National Bank of new york on 1955. After the merger, it was renamed as new york First National City Bank, 1962 changed to First National City Bank, and 1976 changed to its current name. Citibank of new york, formerly known as City Bank of new york, was founded by steelman family in 18 12, which deals in financial services related to Latin American trade. 1865, the bank obtained the national banking license and was changed to Citibank in new york. The brand of this enterprise ranks 3rd1in the top 500 world brands in 2006 compiled by the World Brand Lab. This enterprise ranked 14 in the ranking of Fortune 500 enterprises in the world in 2007. 2. Due to the strict separation management of banking and securities business in American banking law, Citibank stipulates that commercial banks are not allowed to buy stocks and engage in non-banking business, and there are also strict restrictions on opening branches. In order to avoid legal restrictions, Citibank took an important step in the company's strategic decision in 1968-establishing a bank holding company as the parent company of Citibank. Citibank changed its shares into those of the holding company, that is, Citigroup, and 99% of the assets of Citigroup are the assets of Citibank. Citibank has been the "flagship bank" of Citibank for decades. In the 1970s, Citibank's assets accounted for more than 95% of Citibank's assets, which declined after 1980s, but remained at around 85%. Citibank * * * has 13 subsidiaries, providing banking, securities, investment trust, insurance, financial leasing and other financial services (according to the legal requirements at that time, the proportion of non-bank financial services is very small). Through this development strategy, Citigroup embarked on the road of diversified financial services and became the largest single bank holding company in the United States on 1984. 3. Citigroup1On April 6, 1998, Citigroup and Traveler Group announced their merger. The new company formed after the merger is called "Citigroup", and its trademarks are the red umbrella of Traveler Group and the blue prefix of Citigroup. Traveler Life Accident Insurance Company, the predecessor of Traveler Group, was established in 1864. It is mainly engaged in insurance. After the acquisition of Smith Barney, the business scope expanded to the fields of securities brokerage and investment financial services. 1At the end of 1997, salomon brothers Company, a famous American investment bank, was acquired for $9 billion, and Salomon Smith Barney Investment Company was established, ranking second among American investment banks. Citigroup, formed by the merger of Citigroup and Traveler Group, has become the first financial group in the United States that integrates commercial banking, investment banking, insurance, mutual funds, securities trading and other financial services. The combined Citigroup has total assets of $700 billion, net income of $50 billion, 654.38 billion customers in 65.438+000 countries and 60 million credit card customers. Thus becoming one of the largest all-round financial groups in the world.