Citigroup is a global bank founded in 1812 and headquartered in New York City. It operates in over 160 countries with 260,000 employees. Citigroup has two primary business segments: Citicorp for retail and institutional clients, and Citi Holdings for brokerage, asset management, and special assets. During the 2008 financial crisis, Citigroup received over $45 billion in bailout funds and guarantees from the U.S. government due to losses from toxic assets and poor risk management.