Citigroup Cultivates the Corporate Crowd

Citigroup Cultivates the Corporate Crowd

Michael Contreras Citigroup considers itself very much at home in Latin America where it has operated since 1914. Last year, the bank had $50 billion in assets in the region, a presence in 24 countries and some 10 million accounts. It generated $4.4 billion in revenue in 2000 and $956 million in earnings. When the merger with Grupo Financiero Banamex-Accival is complete, Citigroup will have some $85 billion in assets. Furthermore, says Michael Contreras, executive vice president for Latin America at Citibank International in Miami, the 1998 merger between Citibank and Salomon Smith Barney, which created

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