Information• Citigroup Inc. (Citigroup) is a global diversified financial services holding company and is the consumer banking arm of financial services giant Citigroup.• Citibank was founded in 1812 as the City Bank of New York, later First National City Bank of New York.• At that time the ownership and management of the bank was taken over by Moses Taylor• Citigroup businesses provide consumers, corporations, governments and institutions with a range of financial products and services.• Citigroup has a market cap of $76.10 Bn.• The Company has approximately 200 million customer accounts and did business in more than 160 countries and jurisdictions.• On February 1, 2011, Citigroup acquired Maltby Acquisitions Limited (Maltby).
Citigroup operates two primary business segments• Citicorp – Regional Consumer Banking (RCB) businesses – Institutional Clients Group (ICG)• Citi Holdings – Brokerage and Asset Management (BAM) – Local Consumer Lending (LCL) – Special Asset Pool (SAP)
BankingProducts/ Services Credit Cards Loans and Mortgages Investing and Asset Management Bill Payment Services International Banking and Investment
International Banking and Investment• Expatriate Banking• Citi Microfinance• Off-Shore Banking• Off-Shore Investments• Off-Shore Wealth Management• Private Banking
Branches of Bank• The bank has its branches in over 100 countries and territories around the world.• More than half of its 1,400 offices are in the United States, mostly in New York City, Chicago, Los Angeles, the San Francisco Bay Area, Washington, D.C. and Miami. More recently, Citibank has expanded its operations in the Boston, Philadelphia, Houston, and Dallas metropolitan areas.
• In addition to the standard banking transactions, Citibank offers insurance, credit cards and investment products. Their online services division is among the most successful in the field, claiming about 15 million users.• As a result of the global financial crisis of 2008– 2009 and huge losses in the value of its subprime mortgage assets, Citibank was rescued by the U.S. government under plans agreed for Citigroup. On November 23, 2008, in addition to initial aid of $25 billion, a further $25 billion was invested in the corporation together with guarantees for risky assets amounting to $306 billion.• Since this time, Citibank has repaid its government loans in full.
• JP Morgan Chase is even older than Citibank and has assets that amount to about 2 trillion dollars. The bank is a favorite amongst clients from different walks of life, be it government officials, business tycoons or the common man. They are widely celebrated for their credit card services as well as their reliability as far as commercial banking is concerned.• According to Forbes magazine it is the worlds largest public company based on a composite ranking. The hedge fund unit of JPMorgan Chase is one of the largest hedge funds in the United States.
• It was formed in 2000, when Chase Manhattan Corporation merged with J.P. Morgan & Co.• JPMorgan Chase & Co. is an American multinational banking corporation of securities, investments and retail. It is the largest bank in the United States by assets and market capitalization. It is a major provider of financial services, with assets of $2 trillion.
A Glance at JP Morgan Chase & Co.Revenue US$ 102.694 billionOperating income US$ 24.859 billionNet income US$ 017.370 billionAUM US$ 001.298 trillionTotal assets US$ 002.289 trillionTotal equity US$ 176.106 billionEmployees 2,50,095 Chase, J.P. Morgan & Co., J.P. MorganSubsidiaries Cazenove, One Equity Partners
• The J.P. Morgan brand is used by: – Investment banking – asset management, – private banking, – private wealth management and – treasury & securities services divisions.• Fiduciary activity within private banking and private wealth management is done under the aegis of JPMorgan Chase Bank, the actual trustee.• The Chase brand is used for credit card services in the United States and Canada, the banks retail banking activities in the United States, and commercial banking.
• The corporate headquarters are in 270 Park Avenue, Midtown, Manhattan, New York City, New York, and the retail and commercial bank is headquartered in Chase Tower, Chicago Loop, Chicago, Illinois, United States.
• HSBC was established about 20 years back and has had its headquarters in England ever since. Forbes declared it to be among the largest banks and companies in the world last year. HSBC is popular in Asia wherein its investments activities are particularly impressive.
• HSBC Holdings plc was founded in London in 1991 by The Hongkong and Shanghai Banking Corporation to act as a new group holding company and to enable the acquisition of UK-based Midland Bank. The origins of the bank lie in Hong Kong and Shanghai, where branches were first opened in 1865. Today, HSBC remains the largest bank in Hong Kong, and recent expansion in mainland China, where it is now the largest international bank, has returned it to that part of its roots.
• HSBC Holdings plc is a global banking and financial services company headquartered in Canary Wharf, London, United Kingdom.• As of 2011, it is the worlds second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine.• It has around 7,500 offices in 87 countries and territories across Africa, Asia, Europe, North America and South America and around 100 million customers.• It has total assets of $2.418 trillion, of which roughly half were in Europe, a quarter in the Americas and a quarter in Asia.
• HSBC is a universal bank and is organised within four business groups: – Commercial Banking; – Global Banking and Markets (investment banking); – Personal Financial Services (retail banking); – Private Banking.
Sir Thomas Sutherland (Founder) Douglas Flint (Group Chairman)Stuart Gulliver(Group Chief Executive)
Revenue US$ 98.918 billionOperating income US$ 19.037 billionProfit US$ 13.159 billionTotal assets US$ 2.454 trillionTotal equity US$ 147.667 billionEmployees 295,995 HSBC Bank plc, The Hongkong and Shanghai Banking Corporation, HSBC GLT India, HSBC Bank USA, HSBCSubsidiaries Bank Middle East, HSBC Mexico, HSBC Bank Brazil, HSBC Finance
• Bank of America Corporation, an American multinational banking and financial services corporation, is the second largest bank holding company in the United States by assets, and the fourth largest bank in the U.S. by market capitalization.• The bank is headquartered in Charlotte, North Carolina.• Bank of America serves clients in more than 150 countries and has a relationship with 99% of the U.S. Fortune 500 companies and 83% of the Fortune Global 500. The company is a member of the Federal Deposit Insurance Corporation (FDIC) and a component of both the S&P 500 Index and the Dow Jones Industrial Average.
• Bank of America is the 5th largest company in the United States by total revenue, as well as the second largest non-oil company in the U.S. (after Walmart). In 2010, Forbes listed Bank of America as the 3rd biggest company in the world.• The banks 2008 acquisition of Merrill Lynch made Bank of America the worlds largest wealth management corporation and a major player in the investment banking market.
Revenue US$ 134.194 billionNet income US$ 002.238 billionTotal assets US$ 002.264 trillionTotal equity US$ 228.248 billionEmployees 288,000 Bank of America Home Loans, Bank ofSubsidiaries America Merrill Lynch, Merrill Lynch, U.S. Trust Corporation