Smith Barney
From Wikipedia, the free encyclopedia
| Smith Barney | |
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| Type | Subsidiary of Citigroup |
| Founded | 1873 |
| Founder | Charles D. Barney Edward B. Smith |
| Headquarters | New York, USA |
| Key people | Charles Johnston President |
| Industry | Finance and Insurance |
| Products | Brokerage Investment Banking Asset Management |
| Revenue | $10.5 Billion USD 2007 |
| Net income | $1.4 Billion USD 2007 |
| Employees | 14,858 |
| Website | www.smithbarney.com |
Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. In 800 offices, Financial Advisors service 9.6 million domestic client accounts representing $1.562 trillion in client assets worldwide.[1] Clients range from individual investors to small- and mid-sized businesses, as well as large corporations, non-profit organizations and family foundations.
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[edit] History
The Smith Barney story dates back to 19th century Philadelphia, where a young broker, Charles Barney, founded his firm in 1873 and a young investment banker, Edward B. Smith, started his in 1892. These pioneers of the American securities industry helped make Wall Street the world's financial capital.
Today Smith Barney's nearly 12,400 Financial Consultants serve more than 7.5 million client accounts representing nearly $900 billion in client assets.[2]
1873
Charles Barney, a stockbroker, founds Charles D. Barney & Co.
1892
Investment banker Edward Smith founds Edward B. Smith & Co.
1910
Arthur, Herbert and Percy Salomon found Salomon Brothers & Co. and partner with Morton Hutzler & Co. to become Salomon Brothers & Hutzler.
1938
Charles D. Barney & Co. and Edward B. Smith & Co. merge, forming Smith Barney & Co.
1970
The Hutzler name is dropped and the firm becomes Salomon Brothers, Inc.
1976
Smith, Barney & Co. merges with Harris, Upham & Co. to form Smith Barney, Harris Upham & Co.
1987
Smith Barney, Harris Upham & Co. Inc. is acquired by Primerica, a publicly held financial services corporation.
1993
July: Primerica acquires the retail brokerage and asset management operations of Shearson Lehman Brothers, and combines them with Smith Barney.
December 31: Smith Barney becomes a wholly owned subsidiary of Travelers Group (formed by the acquisition of The Travelers by Primerica).
1997
Smith Barney Holdings Inc., the brokerage arm of Travelers Group, is combined with Salomon Inc. to form Salomon Smith Barney Holdings Inc.
1998
October 8: All Citicorp and Travelers Group divisions merge to become Citigroup Inc.
[edit] Acclamation
BusinessWeek ranks Smith Barney No. 1 in customer service among full-service brokerage firms.[3]
[edit] External links
[edit] References
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- New York Sun (http://www.nysun.com/article/42957/)
