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Citibank, North America
Citibank, N.A. ("N. A." stands for " National Association"; stylized as citibank) is the primary U.S. banking subsidiary of Citigroup, a financial services multinational corporation. Citibank was founded in 1812 as City Bank of New York, and later became First National City Bank of New York. The bank has branches in 19 countries. The U.S. branches are concentrated in six metropolitan areas: New York City, Chicago, Los Angeles, San Francisco, Washington, D.C., and Miami. As of 2023, Citibank is the third-largest bank in the United States in terms of assets. History Founding 19th century The City Bank of New York was founded on June 16, 1812. The first president of the City Bank was the statesman and retired Colonel, Samuel Osgood. After Osgood's death in August 1813, William Few became President of the bank, staying until 1817, followed by Peter Stagg (1817–1825), Thomas Smith (1825–1827), Isaac Wright (1827–1832), and Thomas Bloodgood (1832–1843). After the Panic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subsidiary
A subsidiary, subsidiary company, or daughter company is a company (law), company completely or partially owned or controlled by another company, called the parent company or holding company, which has legal and financial control over the subsidiary company. Unlike regional branches or divisions, subsidiaries are considered to be distinct entities from their parent companies; they are required to follow the laws of where they are incorporated, and they maintain their own executive leadership. Two or more subsidiaries primarily controlled by same entity/group are considered to be sister companies of each other. Subsidiaries are a common feature of modern business, and most multinational corporations organize their operations via the creation and purchase of subsidiary companies. Examples of holding companies are Berkshire Hathaway, Jefferies Financial Group, The Walt Disney Company, Warner Bros. Discovery, and Citigroup, which have subsidiaries involved in many different Industry (e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
