Citibank Australia

Citigroup Pty Limited

Trading name	Citibank Australia
Type	Subsidiary of Citigroup
Industry	Banking
Founded	1985
Headquarters	Sydney, Australia
Area served	Australia
Key people	David Livingstone (CEO)
Products	Savings account, term deposits, credit cards, cash management accounts, loans, wealth management
Services	Financial Services
Number of employees	1200
Parent	Citigroup
Website	www.citibank.com.au

Citibank Australia was opened in 1985 and was one of the first foreign banks to be granted a banking licence in Australia, besides being one of the largest international banks in the country. Since 2001, the national headquarters have been located at the Citigroup Centre, Sydney.

Citibank currently has major centres in Melbourne, Perth, and Brisbane and employs a total of about 1,200 Australians. The parent company, Citigroup, has around a million customers in Australia and New Zealand, along with about 900 local corporate and institutional clients. David Livingstone is the Chief Executive Officer.

In 1985, Citibank was granted a banking licence in Australia. In 1999, Diners Club Australia was acquired by Citibank. Citigroup Centre was opened in 2001 in Sydney. In 2002, CitiGold Wealth Management Banking was launched. The next year, Salomon Smith Barney joined up with Citibank Corporate Bank to form the Citigroup Global Corporate and Investment Banking Group. In 2009, following a massive bailout of its parent Citigroup Inc by the US Government in 2008, Citigroup announced in January 2009 that the parent would be separated into "bad bank" Citi Holdings (comprising the bank's brokerage, consumer finance and troubled assets) and Citicorp. Citicorp, the "good bank," will consist of retail banking, business banking and credit cards. Citigroup announced on 27 January 2009 that Michael Corbat, former head of Citigroup's brokerage business, will head Citi Holdings. The US Government is reported to be applying considerable pressure on Citigroup Inc to raise capital and this has led to speculation that smaller foreign units such as Citibank Australia will be sold.