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SUNDAY, NOVEMBER 8, 2009
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NEWS ABOUT: Smith Barney

Smith Barney stories: 8 news summaries

 Citigroup Paid Employees 
 $13M for Scrapped Resort Trip 

Bahamas trip for top performers was nixed after spotlight put on bank's spending

Mar 10, 09 5:07 AM CDT
(Newser) - Citigroup employees whose jaunts to the Bahamas were canceled amid scrutiny of the bailed-out bank's spending were paid $13 million in compensation for the scrapped getaway, insiders tell Bloomberg. Sales agents—all 1900 of them—who had been scheduled to stay at a swanky resort were paid $5,000 each,... More »

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Citigroup • executive compensation • bonuses • Smith Barney • Wall Street bailout • TARP

 Citi Posts $8.3B Loss, 
 Prepares to Split in Two 

Still smarting from bad mortgage bets, the company will split to remain solvent

Jan 16, 09 7:52 AM CST
(Newser) - Citigroup lost $8.29 billion in the fourth quarter—twice as much as expected—as the credit crisis continues to batter big banks, Bloomberg reports. The bank suffered a net loss of $1.72 per share, falling far short of analysts’ estimates. Citigroup, which lost 77 percent of its trading... More »

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Citigroup • Morgan Stanley • earnings reports • quarterly reports • stock price • bailout • Smith Barney

(Newser) - Say goodbye to the Citigroup empire. When the company releases its earnings next week, it'll also unveil a drastic plan to slice away businesses until it’s roughly two-thirds of its current size, the Wall Street Journal reports, and looks much like Citicorp did before the merger that created... More »

MORE ABOUT:
Citigroup • Morgan Stanley • Citibank • Vikram Pandit • Smith Barney

(Newser) - Rumors of Citigroup’s plan to merge its brokerage unit with that of Morgan Stanley have proven true, as both companies’ boards approved the move today, CNBC reports. Morgan Stanley will control 51% of the joint venture between its operation and Citi’s Smith Barney. Observers see Stanley’s option... More »

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Citigroup • merger • Morgan Stanley • Citibank • brokerage • bailout • Smith Barney • TARP

Stockbrokers in High Demand
on Back-to-Basics Wall St.

Some, unlike disgraced investment bankers and traders, even command bonuses

Jan 13, 09 12:56 PM CST
(Newser) - With investment bankers and trading desks disgraced by crippling losses, the everyday stockbroker is enjoying a renaissance as Wall Street firms look to stay relevant to customers and investors, the Wall Street Journal reports. The likely deal between Morgan Stanley and Citigroup that would create the world’s largest brokerage... More »

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Wall Street • Citigroup • Morgan Stanley • investment bankers • portfolio • joint ventures • Smith Barney • brokers • financial crisis • traders

MARKET Open

 Stocks Edge Down 
 Ahead of Earnings 

Dow off 50 in early trading; first reports due late today

Jan 12, 09 9:04 AM CST
(Newser) - Stocks moved lower at today’s open as traders held their collective breath ahead of what’s expected to be a dismal earning season, the Wall Street Journal reports. The Dow was down 50 points recently, to 8,548, while the S&P and Nasdaq dipped 0.95% and 0.... More »

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stock market • Citigroup • Alcoa • Morgan Stanley • Nasdaq • corporate earnings • Dow • S&P 500 • Smith Barney • oil prices • Abbott Laboratories

 Morgan Stanley Near $3B 
 Deal for Smith Barney 

The joint venture would create the world's largest retail brokerage

Jan 12, 09 7:09 AM CST
(Newser) - Morgan Stanley is close to a deal giving it control of Citgroup’s Smith Barney business and creating the world’s largest retail brokerage, reports Reuters. The joint venture would give Morgan 51% of Smith Barney for up to $3 billion. In addition to the cash, Citi would benefit from... More »

MORE ABOUT:
Citigroup • mergers and acquisitions • Morgan Stanley • brokerage • Smith Barney

Citigroup Will Pay $33M
to Settle Gender-Bias Suit

Bank plans to change infrastructure as result of action brought by 2,500 women

Apr 4, 08 4:44 PM CDT
(Newser) - Citigroup will pay $33 million to some 2,500 female brokers to settle a gender-discrimination lawsuit brought by women at its Smith Barney unit, Reuters reports. The bank will also make operational changes in response to the class-action move, adding diversity-watchdog positions, working to retain and promote female workers and... More »

MORE ABOUT:
Citigroup • women's rights • bank • lawsuit • settlement • gender discrimination • gender bias • Smith Barney

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