Business Services Industry
Citigroup drops Salomon brand ; Retiring a revered 92-year-old name sparks criticism, continues trend.(Brief Article)
B to B, June, 2001 by Clark, Philip B.
Ending one of Wall Street's most hallowed and sometimes controversial names, Citigroup has announced it will stop using its Salomon Brothers brand. The Salomon Smith Barney Global Relationship Bank will become the Citigroup Corporate & Investment Bank, starting in next year's first quarter.
The move to abandon the 92-year-old brand-as much slammed as lauded-continues a trend of dropping venerable names descended from the most successful of New York's immigrant and old-money families in favor of corporate monikers that resonate with a younger, global b-to-b audience. The change comes soon after Credit Suisse First Boston scrapped Donaldson, Lufkin & Jenrette's name after acquiring the firm.
The initiative is testimony to the allure that the bank's...
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