Popular, Smith Barney deal.(PUERTO RICO)

0 Comments | Caribbean Update, October, 2007

Popular, Inc., the leading financial institution here, on Aug. 30 announced it will acquire the operations of broker-dealer Smith Barney in Puerto Rico. Smith Barney, a division of Citigroup Global Markets Inc., is a provider of financial planning and advisory services to high net worth investors, institutions, corporations and private businesses, governments and foundations.

As of June 30, its securities business in Puerto Rico consisted of US$1.8 billion in assets under management, 15,000 accounts and 42 employees, including 26 financial advisors. Details: Teruca Rullan, Senior VP. Corporate Communications. Popular, Inc. Tel: 917-679-3596. Email: trullan@bppr.com