Salomon Fades Into History, and Citigroup Takes Its Place

Walker, Susanne
April 2003
Bond Buyer;4/7/2003, Vol. 344 Issue 31609, p40
Trade Publication
The investment banking company Salomon Smith Barney Inc. is closing down and Citigroup is taking its place. The brand Salomon Smith Barney, which was born when Travelers Group Inc. merged Smith Barney Holdings Inc. with Salomon Inc. in 1997, has been failed. Salomon was started before 90 years. Schroder Salomon Smith Barney, which referred to the Great Britain investment banking part of the firm, also closed down.Although the legal entity is Citigroup Global Markets Inc., as a general rule, the entity will now be known as Citigroup when referring to Citigroup's global corporate and investment bank, according to Brian Steel, director of corporate communications.In an internal memo in February 2003, Chuck Prince, chairman and chief executive officer of Citigroup Global Corporate and Investment bank, said, “The decision to use Citigroup broadly highlights the strength of our business and closely aligns us with our parent organization, which is known for its global reach, broad range of outstanding products services and team of the highest level professionals.”


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