Smith Barney is the retail brokerage division of Citigroup.

Contents

1 Smith Barney 2 Salomon Brothers 3 2002 "scandal" 4 See also 5 External links

Smith Barney

Smith Barney was owned by Primerica when Commerical Credit bought the company in 1988.

Salomon Brothers

In 1997 Travelers Group Inc. acquired Salomon Inc. , parent of Salomon Brothers. Salomon Brothers was the Wall Street powerhouse of bond trading and research during the 1980s, but lost much of its favorable reputation after several scandals, including a Treasury bond scandal in 1992. Which included wrongdoings by Paul Mozer , and led to the resignation of John Meriwether.

2002 "scandal"

Claims of unethical practices between research and investment banking divisions during 2002, leading to a separation of the two businesses, moving the investment banking business to the Global Corporate and Investment Bank, and leaving the research and Private Client Services under Smith Barney. And a settlement fine of $400 million.

See also

• Global settlement

External links

• Smith Barney