Saturday, June 16, 2012

Happy 200th B-Day to Citi: Citi Celebrates bi-centenary ~ 200th years in business on June 16, 2012 with theme, brand and innovation

“ One bank. Two centuries. And millions of thanks.”
~~ Citibank Web site Welcome page, June 2012

Today, Citi celebrates 200 years. City Bank of New York was chartered by New York State on June 16, 1812, with $2 million of capital. Serving a group of New York merchants, the bank opened for business on September 14 of that year, and Samuel Osgood was elected as the first President of the company.

The company's name was changed to The National City Bank of New York in 1865 after it joined the new U.S. national banking system, and it became the largest American bank by 1895.

Citi also became the first contributor to the Federal Reserve Bank of New York in 1913, and the following year it inaugurated the first overseas branch of a U.S. bank in Buenos Aires, although the bank had, since the mid-19th century, been active in plantation economies, such as the Cuban sugar industry. (Photo above left, Federal Reserve Bank of New York)

The 1918 purchase of U.S. overseas bank International Banking Corporation helped it become the first American bank to surpass $1 billion in assets, and it became the largest commercial bank in the world in 1929. As it grew, the bank became a leading innovator in financial services, becoming the first major U.S. bank to offer compound interest on savings (1921); unsecured personal loans (1928); customer checking accounts (1936) and the negotiable certificate of deposit (1961).

Citi’s bi-centenary will also mark the first time Citi sponsored the U.S. Olympic and Paralympic Teams. As the official bank sponsor of the 2012 U.S. Olympic and Paralympic Teams, last month Citi unveiled the largest and most integrated U.S. sponsorship campaign the company ever had. Featured are 13 Olympic and Paralympic qualifiers, hopefuls and alumni who are members of Team Citi, that includes broadcast, print, out-of-home, digital, events, promotions and retail activation.

Citi's leadership presence in the global financial market can be seen from their timeline which stems as far back as financing the Panama Canal in 1904 to introducing ATMs in 1977.

Other Resources

Brand Channel: Citi Prepares 200 Anniversary, April 2, 2012
Here Is The City: On Citigroup’s Anniversary, Don’t Forget Its Brutal Past
CBS US: Citi celebrates 200th anniversary with CBS outdoor UK
The Smith Family: Citi 200 Kids Campaign, Citi supports 200 kids on its 200th birthday
NY Sports Journalism: Citibank Opens Olympic Checkbook For Campaign Supporting Team USA
Market Watch: Citi Launches Advertising Campaign for First Ever Sponsorship of U.S. Olympic and Paralympic Teams; Campaign to showcase brand and innovative product portfolio
HuffingtonPost Tech: Apple WWDC 2012 Liveblog
CBS News: Apple WWDC 2012: Apple announces next generation MacBook Pro with Retina Display
Huffington Post: Apple's WWDC News: Which Announcements Clicked, Which Products Clanked And Everything Else You Should Know by Jason Gilberg

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