Citibank 1812-1970 (Citibank)

Author: (American) Harold V. B. Cleveland
Publisher:
Publish Date: 2005-11-01
Features: This history of Citibank is a landmark achievement in the field of economic history writing. The history and story of Citibank span over one and a half centuries, beginning as a merchant bank established in 1812, to becoming one of the most influential commercial and investment banks in the United States by the outbreak of the First World War. By the 1920s, it diversified its business, entering into other related financial services sectors. After suffering heavy blows but surviving the global economic crisis of 1929-1933, it faced the challenges brought by the Second World War. In terms of strategic choices and formulation, as well as banking business process reforms, Citibank once again emerged as an innovator and trendsetter. The research in this book is the first systematic and in-depth study and highly summarized account of the most significant changes and developments in American banking after the Second World War. The book also vividly describes and analyzes the transformation of Citibank from a bank controlled by individuals to a corporate entity managed by professional executives with a very delicate and dramatic style. The author of the book has also successfully explained the fundamental changes in the financial institutions and business institutions of the United States.