Trade Citigroup stock with binary options
About Citigroup Inc.: Citigroup Inc., operating under the name Citi, is a major player in the financial sector based in New York, the product of a merger between Citigroup and Travelers Group on April 7, 1998.
Some Citigroup Inc. figures: The company has nearly 332,000 employees and more than 20 million customers. It has been on the Dow Jones since March 17, 1997, and its’ primary shareholders are the Abu Dhabi Investment Authority, which owns about 4.9% of capital, and Prince Al Walid Al Saoud’s Kingdom Holding Company, with 4.6% of capital.
History of Citigroup: Citigroup was created on October 8, 1998, following the merger of Citicorp Bank and the Travelers Group Insurance Company. The group became the largest company in the financial sector.
The period that impacted Citigroup the most was the 2008 financial crisis, which saw Citigroup stock prices drop by 70%. As a result, the US federal government guaranteed more than $300 billion of Citibank’s stock in exchange for $27 Billion in stock ownership.
A significant recent development: On January 16, 2009, Citigroup announced that it would be splitting up into two entities: Citicorp for banking and investment activities, and Citi Holdings for broker activities and managing stock. Meanwhile, Citigroup continued to exist as an entity during this period.
In February 2009, the US Treasury Department signed an agreement to increase its’ ownership to 36% of Citigroup’s capital. Now the government holds 7X more voting rights than the group’s second most significant stockholder, Al-Walid ben Talal ben Abd al-Aziz Al Saoud.
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