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We strive to create the best outcomes for our clients and customers with financial ingenuity that leads to solutions that are simple, creative and responsible. government. Citigroup CEO Charles Prince signed a certification that the bank was in compliance with SOX despite Bowen revealing this wasn't so. [212][213], In a The New York Times op-ed, Michael Lewis and David Einhorn described the November 2008 $306 billion guarantee as "an undisguised gift" without any real crisis motivating it. The Financial Crisis Inquiry Commission asked him to testify about Citigroup's role in the mortgage crisis, and he did so, appearing as one of the first witnesses before the Commission in April 2010. [183] The five banks were also required to comply with 305 new mortgage servicing standards. [162] It also announced that some lower paid employees would receive a one off payment of US$1,000 to help them through the crisis. House Democratic Whip and Representatives Jim Himes (D-Conn.) and Debbie Wasserman Schultz (D-Florida.). The operations sold include 27 branches serving approximately 250,000 clients. In comparison, Bank Of America, which passed the stress test and did not ask for a capital return to investors, received 78% of its revenue in the United States. On their website, www.computershare.com/investor, you can find a summary of the Citigroup DRP, and download the plan prospectus. [84][85] Citigroup retained the life insurance and annuities underwriting business; however, it sold those businesses to MetLife in 2005. <>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]>>/Parent 2 0 R/Group<>>> [236], In 2009, former chairman Richard Parsons hired long-time Washington, D.C. lobbyist Richard F. Hohlt to advise him and the company about relations with the U.S. government, though not to lobby for the company. From 1989 to 2006, members of the firm donated over $23,033,490, 49% of which went to Democrats and 51% of which went to Republicans. The resulting pay ratio is estimated to be 486:1. [136] This was a result of selling more than $500 billion of its special assets placed in Citi Holdings, which were guaranteed from losses by the US Treasury while under federal majority ownership. You may also refer to our Stockholder Services page for information and resources available to you. [167], Citigroup owns the naming rights to Citi Field, the home ballpark of the New York Mets Major League Baseball team, via a $400 million, 20-year deal that commenced with the stadium opening in 2009. Please note that Citigroup's Stock Split History reflects the stock splits of Citigroup and its predecessor companies only, not the splits of companies either acquired by or merged into Citigroup. For more information on the history of Citigroup, please go to the Citi's History section under the About Citi tab. The report specifically stated that Citigroup failed "to project revenues and losses under a stressful scenario for material parts of the firm's global operations and its ability to develop scenarios for its internal stress testing that adequately reflects its full range business activities and exposures. Its roots came from Commercial Credit, a subsidiary of Control Data Corporation that was taken private by Weill in November 1986 after taking charge of the company earlier that year. It has shops and restaurants serving Metra customers via the Ogilvie Transportation Center. [82][83], Travelers merged with The St. Paul Companies Inc. in 2004 forming The St. Paul Travelers Companies.

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