In October, 1998, Citicorp and Travelers Group completed their $70 billion merger, joining these two companies' banking, brokerage and insurance services to form the largest corporate merger in history. Citicorp, the second largest commercial bank in the United States and the world's leading distributor of credit cards tied a knot with Travelers Group, a financial conglomerate that offered insurance and investment banking services. The merger between the two created CitiGroup, a one-stop financial shop that services over 100 …
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…project. For banks this is not just an accounting issue. The introduction of international financial reporting standards will likely lead to increased volatility in both earnings and capital, and will have wide-ranging business impacts, such as on product structuring, performance measurement, credit decisions and management incentives. Strategy though is defined widely as a long term direction of an organization, the above examples bring into light the several other characteristics of strategy giving its complete definition.