is the largest financial-services conglomerate in the United States. During the past 3 years it has been by most measures the largest company in the US, with the largest profits (more than any company in the world) and largest assets under management. Its planned formation was announced on April 7
through a merger of Citicorp
and Travelers Group
Despite its size in the United States, it currently only has about a 5 percent market share amongst banks, and its amount on deposit is dwarfed by international banks (especially in Japan), which have seen much more consolidation.
Some member companies:
- Citibank, provinding consumer banking products.
- SmithBarney, investment services.
- Primerica, consumer investment services.
- Travelers Life & Annuity, insurance services.
- Diner's Club International, credit cards.
See also: bank
, investment bank
, commercial bank