Citigroup
American multinational investment bank and financial services corporation
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| March 2025 | Citigroup seeks to reduce reliance on external IT contractors by 20% to 50%, planning to hire full-time employees and increase technology workforce to 50,000. The bank intends to reduce external suppliers from 144 to 50 and shift IT operations from Rutherford, NJ, to Jersey City. |
| December 2024 | Citigroup, along with Bank of America, announces exit from the Net-Zero Banking Alliance (NZBA). |
| October 2024 | Reported that the company will move significant portions of its financial infrastructure to Google Cloud. |
| June 2024 | United States Drug Enforcement Administration agents reported that money launderers continued to exploit Citibank's weak controls and oversight policies, particularly in relation to investigations into the Sinaloa Cartel. |
| June 2024 | At its biennial Investor Day, Jane Fraser focuses the conversation on Citi's Securities Services business, the most profitable of its five business units. |
| January 2024 | Citi announces plans to cut 20,000 jobs from the company. |
| 2023 | The Consumer Financial Protection Bureau (CFPB) ordered Citigroup to pay $24.5 million in fines and $1.4 million in restitution to Armenian Americans for illegal discrimination in credit card applications between 2015 and 2021, based on applicants' surnames. |
| December 2023 | As of December 2023, institutional investors own around 30% of Citigroup's shares, with The Vanguard Group and BlackRock being the largest shareholders at 8.71% and 8.68% respectively. |
| November 2023 | Citigroup began layoffs as part of a corporate overhaul, with plans to reduce workforce by at least 10% (20,000 employees) under 'Project Bora Bora', initiated by CEO Jane Fraser. |
| August 2023 | DBS Bank acquires Citi's consumer banking business in Taiwan for $706 million. |
| 2022 | Reported a net income of $14.845 billion, showing resilience in the financial markets despite ongoing economic uncertainties. |
| September 2022 | Citi plans to shutter its retail bank business in the United Kingdom. |
| March 1 2022 | Citi discloses over $10 billion exposure to Russian assets, potentially materially affected by Russia's expulsion from the SWIFT banking system. |
| January 2022 | Citi announces plans to exit consumer banking in Mexico, along with small-business and middle-market banking operations. |
| January 2022 | UOB purchases Citi's consumer banking business in Indonesia, Malaysia, Thailand, and Vietnam for approximately $4.9 billion. |
| 2021 | Jane Fraser again included on Fortune 'Most Powerful Women in Business' list. |
| April 2021 | Citi announces exit from consumer banking operations in 13 markets, including Australia, Bahrain, China, India, Indonesia, South Korea, Malaysia, the Philippines, Poland, Russia, Taiwan, Thailand, and Vietnam. |
| March 2021 | Jane Fraser becomes CEO, succeeding Michael Corbat. |
| February 2021 | Jane Fraser becomes CEO of Citigroup, becoming the first female CEO of a Big Four bank. |
| 2020 | Citigroup agreed to pay $400 million to federal regulators over long-standing concerns regarding its failure to establish effective risk management. The Federal Reserve and OCC cited 'unsafe and unsound banking practices' and noted the bank had failed to correct known problems for years. |
| October 2020 | Citigroup was fined $400 million by US bank regulators for risk control system issues and ordered to update their technology. |
| August 2020 | Citi mistakenly wired $900 million to the creditors of Revlon, subsequently suing to recover the funds. |
| 2019 | Citigroup combined its Global Markets and Securities Services business into a unified Markets & Securities Services division, consolidating trading, execution, custody, clearing, financing, and hedging services under one integrated business unit. |
| February 2019 | Mark Mason becomes chief financial officer. |
| January 2019 | John Dugan becomes chairman, succeeding Michael O'Neill. |
| January 2019 | Citigroup sold its stake in Citi Orient Securities to its Chinese partner, ending the joint venture partnership in the Chinese market. |
| 2018 | The Office of the Comptroller of the Currency (OCC) indicted Citigroup for shortcomings in its anti-money laundering policies, requiring the bank to pay $70 million in fines. |
| June 1 2018 | The Australian Competition and Consumer Commission (ACCC) announced potential criminal cartel charges against Citigroup, ANZ Bank, Deutsche Bank, and several individuals by the Commonwealth Director of Public Prosecutions (CDPP). |
| March 21 2018 | Citigroup announces a new policy restricting business customers from performing certain firearm-related transactions, while maintaining existing services for other clients. |
| 2017 | Prosecutors claimed drug smugglers were using Citigroup's Banamex USA unit to smuggle dirty money into the United States from Mexico. The company agreed to pay more than $97 million to settle these allegations. |
| 2016 | Experienced a significant drop in net income, reporting a loss of $6.798 billion, marking a challenging year for the company. |
| April 2016 | Citi received regulatory approval for its 'living will', its plans to shut down operations in event of another financial crisis. |
| April 1 2016 | Citigroup became the exclusive issuer of Costco-branded credit cards. |
| February 2016 | Citi sold its retail and commercial banking operations in Panama and Costa Rica to the Bank of Nova Scotia (Scotiabank) for $360 million. |
| 2015 | Jane Fraser again included on Fortune 'Most Powerful Women in Business' list. |
| November 2015 | Springleaf acquired OneMain Financial from Citigroup. |
| May 2015 | Citigroup announced the sale of its margin foreign exchange business, including CitiFX Pro and TradeStream, to FXCM and SAXO Bank of Denmark. |
| April 2015 | Jane Fraser becomes CEO of Citigroup Latin America. |
| 2014 | Jane Fraser first included on Fortune 'Most Powerful Women in Business' list. |
| 2014 | Citigroup's Political Action Committee (PAC) contributes $804,000 to campaign funds of 162 members of Congress, with donations slightly favoring Republicans and including support for moderate Democrats. |
| 2012 | Michael O'Neill becomes chairman, and Michael Corbat becomes CEO, replacing Dick Parsons and Vikram Pandit. |
| 2012 | Citigroup formed Citi Orient Securities, a joint venture with Orient Securities in Shanghai, establishing an equity and debt brokerage in the Chinese market. |
| 2010 | Citigroup appoints Edward Skyler to a senior public and governmental relations position, after considering candidates like Kevin Sheekey, Howard Wolfson, and Gary Ginsberg. |
| 2010 | Showed signs of financial recovery, reporting a net income of $10.602 billion after two consecutive years of losses. |
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