Citi is a global financial services company that operates through five main business segments, providing a wide range of financial products and services . The company offers cash management, trade, working capital solutions, securities services, sales and trading services, investment banking, corporate lending, traditional banking services, and wealth management . Citi's diversified business model and global network enable it to maintain leadership positions in key areas and drive revenue growth across its segments .
- Services - Provides cash management, trade, working capital solutions, and securities services through Treasury and Trade Solutions (TTS) and Securities Services .
- Treasury and Trade Solutions (TTS) - Offers cash management and trade solutions.
- Securities Services - Delivers securities services and working capital solutions.
- Markets - Offers sales and trading services across various asset classes, including equities and fixed income, with a focus on maintaining leadership in fixed income .
- Banking - Encompasses Investment Banking and Corporate Lending, supporting client capital-raising needs and strategic financing solutions .
- U.S. Personal Banking (USPB) - Includes Branded Cards and Retail Services, providing traditional banking services and contributing to consistent revenue growth .
- Branded Cards - Offers credit card services.
- Retail Services - Provides traditional banking services.
- Wealth - Serves affluent and high-net-worth clients with a range of financial services, expected to grow at a high single-digit to low double-digit CAGR .
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Titi Cole ExecutiveBoard | Director | Datadog, Inc. (Board Member), Sickle Cell Hope Alive Foundation (Executive Director of Development) | Titi Cole is a Director at Citigroup as of January 31, 2025, previously serving as Head of Legacy Franchises. | |
Jane N. Fraser Executive | CEO | Council on Foreign Relations (Board Member), Harvard Business School (Board of Dean’s Advisors), Stanford Advisory Board (Member) | Jane Fraser is the CEO of Citigroup Inc. since March 2021, with extensive experience across Citigroup’s business segments and recognized for her leadership in governance, regulatory interaction, and risk management. | View Report → |
Mark A. L. Mason Executive | CFO | N/A | Mark Mason is the CFO of Citigroup, having joined in 2001. He has held various senior roles within Citigroup, including CEO of Citi Private Bank and CFO of Citi’s Institutional Clients Group. | |
Patrick Scally Executive | Interim Controller | N/A | Patrick Scally is the Interim Controller of Citigroup since September 2024, having been with the company since 1992. | |
Robert Walsh Executive | Interim Chief Accounting Officer | N/A | Robert Walsh is the Interim Chief Accounting Officer of Citigroup since September 2024, with over two decades of experience at Citigroup. | |
Barbara J. Desoer Board | Director | DaVita Inc. (Board Member), InStride (Advisory Board Member) | Barbara Desoer has been a Director of Citigroup since 2019, with over 40 years of experience in financial services, including a 35-year career at Bank of America. | |
Casper W. von Koskull Board | Director | Heimstaden Bostad Ab (Chairman), Fazer Ab (Chairman), Stena Ab (Board Member) | Casper von Koskull has been a Director of Citigroup since January 2023, with over 35 years of experience in institutional and international finance. | |
Diana L. Taylor Board | Director | Brookfield Corporation (Director), Accion (Chair of the Board), Columbia Business School (Board of Overseers) | Diana Taylor has been a Director of Citigroup since 2009, with extensive experience in financial services and regulatory compliance. | |
Duncan P. Hennes Board | Director | RenaissanceRe Holdings Ltd. (Board Member) | Duncan Hennes has been a Director of Citigroup since 2013, with extensive experience in risk management, financial services, and corporate governance. | |
Ellen M. Costello Board | Director | The Economic Club of Chicago (Member) | Ellen Costello has been a Director of Citigroup since 2016, with extensive experience in financial services, risk management, and regulatory compliance. | |
Gary M. Reiner Board | Director | Hewlett Packard Enterprise Company (Board Member) | Gary Reiner has been a Director of Citigroup since 2013, with expertise in technology, cybersecurity, and data management. | |
Grace E. Dailey Board | Director | N/A | Grace Dailey has been a Director of Citigroup since 2019, with 36 years of experience as a banking regulator, focusing on risk management and regulatory compliance. | |
James S. Turley Board | Director | Emerson Electric Co. (Board Member), Northrop Grumman Corporation (Board Member), Precigen, Inc. (Board Member) | James Turley has been a Director of Citigroup since 2013, with expertise in financial reporting, corporate governance, and risk management. | |
John C. Dugan Board | Chair of Citigroup Inc. | Mitsubishi UFJ Financial Group, Inc. (Global Advisory Board Member), University of Michigan’s “Michigan in Washington” Program (Advisory Board Member) | John Dugan has been Chair of Citigroup Inc. since January 2019, with a background in regulatory, legal, and compliance matters. | |
Peter B. Henry Board | Director | Nike, Inc. (Board Member), Analog Devices, Inc. (Board Member), National Bureau of Economic Research (Board Member) | Peter Henry has been a Director of Citigroup since 2015, providing insights on emerging markets and international business. | |
Renée J. James Board | Director | Ampere Computing (Founder, Chair, and CEO), Oracle Corporation (Board Member) | Renée James has been a Director of Citigroup since 2016, with a background in technology leadership and cybersecurity. | |
S. Leslie Ireland Board | Director | The Stimson Center (Board Member), Chubb Insurance (Cyber Advisory Board Member), KnightSwan Acquisition Corp. (Director) | S. Leslie Ireland has been a Director of Citigroup since 2017, with expertise in financial intelligence, cybersecurity, and risk management. |
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Given the progress you've made on the transformation and regulatory consent orders, why did you receive an amended consent order related to data quality and regulatory reporting, and is this an issue of insufficient resources or needing to change your approach?
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You mentioned that you closed a BSA/AML order this quarter, yet concerns remain about your data quality and regulatory reporting; can you clarify whether these issues are impacting your ability to serve clients or causing any operational disruptions?
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With your stock trading at $64 compared to a tangible book value of $90, why aren't you being more aggressive in repurchasing shares, especially given the disconnect between your performance and stock price?
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In light of concerns about judicial reform in Mexico and the potential negative impact on Banamex's valuation, how do you plan to proceed with the IPO, and are you prepared to delay it if market conditions don't improve?
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Despite improvements in net interest income in certain areas, you've guided for NII ex-markets to be roughly flat sequentially and slightly down for the full year; what's driving this headwind, and how do you plan to address it going forward?
Research analysts who have asked questions during CITIGROUP earnings calls.
Ebrahim Poonawala
Bank of America Securities
5 questions for C
Erika Najarian
UBS
5 questions for C
Gerard Cassidy
RBC Capital Markets
5 questions for C
James Mitchell
Seaport Global Holdings LLC
5 questions for C
Matthew O'Connor
Deutsche Bank
5 questions for C
Saul Martinez
HSBC
5 questions for C
Betsy Graseck
Morgan Stanley
4 questions for C
Glenn Schorr
Evercore ISI
4 questions for C
John McDonald
Truist Securities
4 questions for C
Michael Mayo
Wells Fargo
3 questions for C
Christopher McGratty
Keefe, Bruyette & Woods
2 questions for C
Ken Usdin
Autonomous Research
2 questions for C
Mike Mayo
Wells Fargo
2 questions for C
Steven Alexopoulos
JPMorgan Chase & Co.
2 questions for C
Vivek Juneja
JPMorgan Chase & Co.
2 questions for C
Kenneth Usdin
Jefferies
1 question for C
Ryan Kenny
Morgan Stanley
1 question for C
Citations: The auditor, KPMG LLP, has served as Citigroup's auditor since 1969. **[0000831001-24-000033_c-20231231.htm:211]**
Recent press releases and 8-K filings for C.
- Citigroup is actively exploring custodial solutions and stablecoin initiatives, including reserve management and the potential issuance of its own external token, with safety and soundness top of mind.
- A digital asset custody platform would position Citi in competition with firms like Coinbase and BitGo.
- Issuance of a stablecoin could enhance payments capabilities, building on its existing Citi Token Services that offers 24/7 instant payments to select branches.
- Following last month’s GENIUS Act, Bank of America and JPMorgan have also signaled stablecoin plans, while lobbying groups are urging Congress to revise Section 16D to maintain state regulatory authority.
- Circle Internet Group priced a public offering of 10,000,000 Class A common shares at $130.00 per share.
- The company is selling 2,000,000 shares and selling stockholders 8,000,000 shares, with underwriters granted a 30-day option to purchase up to 1,500,000 additional shares.
- J.P. Morgan, Citigroup, and Goldman Sachs are joint lead active bookrunners; Barclays and Deutsche Bank Securities are bookrunners; and Canaccord Genuity, Needham & Company, Oppenheimer & Co., and Santander are co-managers.
- The offering is expected to close on August 18, 2025, subject to customary closing conditions.
- Citigroup will offer custody and settlement services for stablecoins and cryptocurrency-based investment products, including spot Bitcoin ETFs, leveraging new U.S. regulations requiring high-quality asset backing.
- The bank plans to integrate stablecoin payments into its existing blockchain-based network for 24/7 tokenized dollar transfers and near-instant cross-border settlements via conversion to USD.
- Citigroup aims to attract institutional investors by providing regulated custody solutions to mitigate risks like theft and hacking, positioning itself against providers such as Coinbase.
- Other major financial institutions, including Bank of America and Fiserv, are also exploring digital asset custody services, signaling a broader shift toward regulated digital finance.
- Citigroup reported 25% year-over-year net income growth to $4.02 billion and EPS of $1.96 in Q2 2025, beating expectations.
- Federal Reserve 2025 stress test relief reduced Citigroup’s stress capital buffer from 4.1% to 3.6% and lowered the CET1 ratio requirement from 12.1% to 11.6%, freeing capital for shareholder returns.
- The bank raised its quarterly dividend and accelerated a $20 billion share repurchase program to enhance shareholder distributions.
- Services segment delivered 23.3% ROTCE on 8% revenue growth, driven by cross-border activity and U.S. dollar clearing.
- Base Carbon realized $1.02 M net cash proceeds from Vietnam cookstove carbon credit monetization in Q2 2025 and posted an operating loss of $0.74 M versus operating income of $9.97 M in Q2 2024.
- Total assets at June 30, 2025 were $110.97 M, including $10.43 M in cash, $25.63 M in carbon credit inventory, and shareholders’ equity of $102.17 M.
- The company repurchased approximately 6 million shares under its NCIB year-to-date at an average price of C$0.49 per share.
- Subsequent to quarter end, Base Carbon added 192,810 credits to inventory—bringing the total to 1,905,003 Article 6 credits—and saw an additional 371,272 credits issued to its Rwanda project partner under a revenue-sharing arrangement.
- Bullish, backed by Peter Thiel, increased its U.S. IPO size to $990 million at a valuation of $4.82 billion, selling 30 million shares at $32–33 each.
- The offer was raised from an initial plan of 20.3 million shares priced at $28–31 per share and will list on the NYSE under ticker BLSH, with J.P. Morgan, Jefferies, and Citigroup as lead underwriters.
- After a called-off $9 billion SPAC merger in 2022, CEO Tom Farley said the IPO timing aligns with a new crypto growth phase, offering credibility, capital access, and an equity currency for acquisitions.
- Bullish plans to raise $629.3 million by offering 20.3 million shares at $28–$31 each, targeting a valuation of up to $4.23 billion.
- J.P. Morgan, Jefferies and Citigroup are lead underwriters for the IPO.
- The company estimates Q2 2025 net income of $106–$109 million, following a $349 million loss in Q1 2025 and an $80 million profit in 2024.
- Backed by Peter Thiel, Bullish will convert a significant portion of IPO proceeds into U.S.-dollar stablecoins and is regulated in the U.S. and Germany, targeting institutional clients.
- This IPO marks Bullish’s second attempt to go public after calling off a $9 billion SPAC merger in 2022.
- Citi re-entered the high-end credit card segment with a new “affordable luxury” card offering simple, flexible benefits, a high earn rate and partnerships (e.g., American Airlines) to appeal to savvy affluent users.
- Citi’s overall credit card business grew at 11% year-on-year in Q2, driven by acquisitions, spend and borrowing within a revenue pool exceeding $150 trillion.
- Citi reports sustained US consumer resilience, with spend up 4%, income sources outpacing inflation and net credit losses declining year-on-year for the first time since H2 2022.
- The Board authorized 108,000 shares of 6.875% Fixed Rate Reset Noncumulative Preferred Stock, Series GG, with par value $1.00, under the Certificate of Designations dated July 16, 2025.
- Citigroup is offering 2,700,000 depositary shares, each representing a 1/25 interest in a Series GG preferred share, with $25,000 liquidation preference per preferred share and $2.7 billion aggregate liquidation preference.
- Dividends accrue at 6.875% per annum, payable quarterly through August 15, 2030; thereafter they reset every five years to the five-year U.S. Treasury rate plus 2.890%, beginning November 15, 2030.
- The depositary shares will be issued under a July 23, 2025 deposit agreement with Computershare Inc. and Computershare Trust Company, N.A., and sold to underwriters led by Citigroup Global Markets Inc..
- Analyst warns investors are too myopic, focusing on daily headlines and overlooking that the financial sector is trading at all-time highs.
- Citigroup is highlighted as the leading turnaround story under CEO Jane Fraser, benefiting from streamlined operations and renewed investment banking talent.
- The stock, trading around $92–93, could reach a technical target of $110 by year-end, according to the analyst’s outlook.
- Institutional investors remain behind, with significant capital still on the sidelines expected to chase market performance in coming months.
- A Federal Reserve rate cut is anticipated, but likely not until September, despite some calls for a July move.