Salomon Smith Barney
SmithBarney is a retail brokerage division of Citigroup. Formerly, Smith Barney was part of Salomon Smith Barney, a proper member of Citigroup since the late 1990s. At that time, Smith Barney and Salomon Brothers had merged under the direction of Sanford I. Weill, who was then the chairman of Travelers Corporation. Salomon Brothers, which was once the bond trading and research powerhouse of Wall Street in the 1980s, lost much of its favorable reputation after several scandals, including a Treasury bond scandal in 1992 and more recently, unethical practices between research and investment banking divisions, leading to the elimination of "Salomon" from the name and a reshuffling that ultimately made Smith Barney the name of choice.
