This is interesting!

NEW YORK, Aug. 24 (Reuters) - Citigroup Inc. the world's largest financial services company, said on Monday it will acquire Texas-based First American Bank.

Terms of the transaction were not disclosed; it is expected to close in the first quarter of 2005. Citigroup said the purchase should be immediately accretive to earnings.

Citigroup will acquire $3.5 billion in assets, 100 new branches and 120,000 new customers, the bank said in a press release.

Following the acquisition, First American branch locations will be converted to Citibank Financial Centers.

Yep, it is a brave new world for me.

I wondered if anyone here was affected. I can tell you, having worked for Citi for a number of years, that it can be a great place to work. They have great products and do try to do things correctly. The compliance culture is quite strong as you will find out! But it is also is huge - but great technology for the most part.