Chapter 1. History of Citigroup
Citigroup’s family tree is impressive. It can easily compete with those of old European royal families by number of branches. More than twenty original companies date back to the 19th century. In particular, two oldest, The Bank of America and City Bank of New York, were founded in 1812, practically 200 years ago. In total, Citigroup is an amalgamation of hundreds of various entities. For the timeline, the reader is referred to Section “Citigroup Timeline” in Appendixes.
If one would ever write the full history of the company, it would probably take decades and result in dozens of large volumes. In this chapter we will try to limit the study to key events relevant to our research.