Citigroup Inc. has the worlds largest financial services network, spanning 140 countries with approximately 16,000 offices worldwide. The company employs approximately 260,000 staff around the world, and holds over 200 million customer accounts in more than 140 countries. It is a primary dealer in US Treasury securities.
Citigroup suffered huge losses during the global financial crisis of 2008 and was rescued in November 2008 in a massive bailout by the U.S. government. Its largest shareholders include funds from the Middle East and Singapore. On February 27, 2009, Citigroup announced that the United States government would take a 36% equity stake in the company by converting $25 billion in emergency aid into common shares; the stake was reduced to 27% after Citigroup sold $21 billion of common shares and equity in the largest single share sale in US history, surpassing Bank of Americas $19 billion share sale one month prior.
Citigroup is one of the Big Four banks in the United States, along with Bank of America, JP Morgan Chase and Wells Fargo.
Citigroup was formed on October 9, 1998, following the $140 billion merger of Citicorp and Travelers Group to create the worlds largest financial services organization. The history of the company is, thus, divided into the workings of several firms that over time amalgamated into Citicorp, a multinational banking corporation operating in more than 100 countries; or Travelers Group, whose businesses covered credit services, consumer finance, brokerage, and insurance. As such, the company history dates back to the founding of: the City Bank of New York (later Citibank) in 1812; Bank Handlowy in 1870; Smith Barney in 1873, Banamex in 1884; Salomon Brothers in 1910.
Social Factors- the primary social factor that have a huge impact in the analysis of the macro-environment of the business is the demography, in the demographics there are two areas in the demography in which most businesses are concerned, the working population on which it identifies the number of possible employees of the company and the population, the number of people residing in a community or a country which will have a great influence in the demand of products and services of the company.
Legal Factors- an organization that is planning to establish in a specific country or community, or a current organization. It must follow the laws, rules and regulations in which the business is located. There are two types of laws that businesses are very particular and these are criminal law and civil law.
Environmental Factors- business often times tackle the benefits that the organization gets as well as the costs of their operations. The pressure groups are concerned the negative external effects of the business such as air and water pollution. Aside from the pressure groups government also aids in protecting the environment through passing legislations.
Ethics- ethical issues are important in any business because companies see it as a marketing tool which could be vital in increasing the sales and revenues of the company. In addition, companies those have ethical standards especially among employees will most likely have satisfaction and more hardworking in their jobs.
Political Factors- the political environment of the country or a region has a great impact in the companies and businesses, the confidence level of the business owners in a country which has an unstable political system will be lower compare to countries that have stable political environment.
Technological Factors- technology is continuously changing and in order for businesses to cope up with the competition and survive in the competitive market new technologies must be integrated in the businesses. However, acquiring new technologies requires a huge amount of time, money and effort.