Citigroup
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Company Background:
Citigroup Inc. is todays pre-eminent financial services company, with some 200 million customer accounts in more than 100 countries. Major brand names under Citigroups trademark red umbrella include Citi Cards, CitiFinancial, CitiMortgage, CitiInsurance, Primerica, Diners Club, The Citigroup Private Bank, and CitiCapital. According to Forbes Global 2000, it is the worlds biggest company and the most profitable financial services firm. Its formation was announced on April 7, 1998 through a merger of Citicorp and Travelers Group. It was the first US Company to combine banking with insurance underwriting since the Great Depression.

Business Divisions
Citigroup is organized into three major business groups Ð- Global Consumer, Corporate and Investment Banking, and Global Wealth Management. In addition to two stand-alone businesses, Citigroup Asset Management and Citigroup Alternative Investments.

The Global Consumer Group is comprised of three sub-divisions, Cards (credit cards), Consumer Finance, and Retail Banking. The credit card business on average delivers about 40% of the profits of this group. Citigroup is the largest provider of credit cards in the world, a position long held by Citicorp, and increased by many acquisitions of card portfolios.

The Consumer Finance Division (called Citi-financial) accounts for about 20% of the consumer groups profits. Citibank is about the fifth largest retail bank in the United States, and it has branches in countries throughout the world. The biggest part of retail banking however is Banamex, the largest bank in Mexico, which Citigroup owns. Overall the Global Consumer group contributes more than half of all the profits for Citigroup.

The Global Corporate and Investment bank consists of two subdivisions, capital markets & banking, and global transaction services. This division essentially handles large corporate cash management, lending, and Investment Banking. Citigroups investment bank is one of the largest, frequently topping many League Tables. The final division is called Private Client Services, a euphemism for a stock brokerage. This division is branded Smith Barney, and is the second largest stock broker in the world. It usually contributes however, only around 6% of Citigroups profits. Through its subsidiaries, Citigroup offers banking, lending, insurance, investment, mortgage, asset management. Citigroup sets itself apart from its top three competitors: JP Morgan Chase & Co., Bank of America Corp. and Deutsche Bank AG by the extent of its global breadth.

Citigroups Vision statement:
Citigroup is envisioned as the most respected global financial Services Company.
Citigroups Mission statement
“To be the most comprehensive financial services provider”
With the most diverse array of products and the greatest distribution capacity of any financial firm in the world, our 300,000 employees manage 200 million customer accounts across six continents in more than 100 countries

VALUES STATEMENT
Values:
Integrity: We do the right thing.
Excellence: We deliver superior products and services to our clients and take pride in the quality of our work.
Respect: We treat people with respect.
Teamwork: We work together to get the job done.
Ownership: We act like owners and take responsibility for our actions.
Leadership: We believe in leadership by example, in the office and in the community.
Citigroups 300,000 employees carry forward a legacy some 200 years in the making. It is a legacy of service, integrity, and leadership. With this legacy and the role we play in the global economy, come great responsibilities that are shared by every employee on behalf our clients, each other, and our franchise.

Overview of China
China is becoming one of the most prestigious countries of the world. Industry is largely based on state and joint ownership, noticeable by growing technological advancements and productivity. Major industrial centers are located in Beijing-Tianjin- Tangshan area, Liaoning Province, Wuhan and Shanghai.

Chinese currency is called Renminbi, which means “Peoples Currency.” The popular unit of Renminbi is Yuan. Agriculture dominates in this huge area, usually favored by a mild or sub-tropical climate.

The culture is one of the worlds oldest and most complex civilizations. China has a history with over 5,000 years of artistic, philosophical, and political advancement. Even though regions differ, they still provide a sense of diversity, but similarities in language and religion that is notable of common important contributions as Confucianism. Confucianism is known for shaping much of Chinese thought and was the official philosophy throughout most of Chinas history. China will be very attractive business destination because of huge growth as it is in the transition phase. One has to be aware of the local Chinese culture. It encourages a more distant managing style than American. It is having high context cultures managers prefer slow negotiations and trust building meetings, which tend to frustrate low context Americans who prefer to get right down to business.

Thus one has to be aware of these factors accordingly to develop the mutually rewarding relationship with them.
CITIGROUP IN CHINA
Citi opened its first office in 1902, but went out of the China in 1950 and returned in 1983. It serves a broad base of customers including multinationals, joint ventures, local enterprises and residents. Its business by products covers a wide spectrum of consumer, commercial and merchant banking activities. Citibank has become the first foreign bank to open its doors to Chinese customers.

STRENGTHS
1. Diversified financial service business model
Citigroup is a conglomerate having many types of finance businesses, such as stockbrokers, banks, insurance companies, and others. This is done because each of those businesses do better or worse at different times of the business cycle, and so owning all of them balances things out

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Citigroup Inc. And Citigroups Trademark. (July 1, 2021). Retrieved from https://www.freeessays.education/citigroup-inc-and-citigroups-trademark-essay/