CITIGROUP

Citigroup

Citigroup

Citigroup is recognized as largest financial services provider in US and one of leading financial services companies in world. The company was re-branded in 2007 and is now called Citi. The organization is based in New York City. Citigroup was formed by merger of Citicorp and Travelers Group in 1998. As stated in about us in Citi website, organizations history dates back to foundations of “Citibank in 1812, Bank Handlowy in 1870, Smith Barney in 1873, Banamex in 1884, and Salomon Brothers in 1910.” Citi is a behemoth organization with hundreds of diversified businesses merged through its 200 plus years of history that provides a large portfolio of diversified financial services to customers in United States and worldwide. Citigroup has a workforce of over 320,000 employees around world, and has over 200 million customer accounts in more than 100 countries around globe. “Citi is organized into four major segments - Consumer Banking, Global Cards, Institutional Clients Group, and Global Wealth Management.” (How Citi is organized, 2008). These four major segments provide a variety of specialized financial services to customers worldwide. In 2007, Citigroup was recognized as world's largest company by Forbes Global 2000. As per Mergent Online, for 2007 year end, Citi reported 159 billion in revenue with total assets of 2.2 trillion with a net income of 3.62 billion. Even though organization reported a fourth quarter loss of 9.83 Billion these losses were absorbed by its gains.

Citi has now been actively reviewing all businesses and making necessary changes and enhancements to processes to ensure such losses never occur again. As a whole organization is in process of implementing plans to upgrade to a newer system that will replace SOE or Standard Operating Environment from all machines with new Desktop Standard Initiative (DSI) with either Vista or XP windows based operating systems.

The Markets and Banking division composed of Global Banking, Global Capital Markets and Transaction services all which fall under The Institutional Clients Group a business that was formed and realigned in 2007, will be first to implement upgrades to DSI in XP and Vista Operating System options. This new project is aimed at providing improved, faster processing and cutting edge technology for employees that will transfer to our customers in services they receive. Citi is very devoted on providing innovative services to customers strictly on basis of their needs. Inconvenience for their customers is something that company ...