NEW YORK — Citigroup, the nation’s largest financial services company formed by the 1998 merger of Citicorp bank and Travelers Group insurance company, said Tuesday it will begin putting the Citi brand on most of its operations.
Chairman and chief executive Sanford Weill said in a memo to employees, which was made public by the bank, that the company aimed to establish “a coherent brand communication strategy” that was developed after talks with customers and employees.
“We have found the brand name ‘Citigroup’ has become strongly established in the corporate and institutional marketplace and that many of our clients now use ‘Citigroup,’ regardless of the business with which they may work,” Weill wrote.
Corporate logos for many of the divisions will change, most with the addition of the company’s signature red umbrella or red arc, the company added.
One thing that won’t change is Citibank, which will remain the name of the consumer and corporate bank, he said.
Among the changes:
_ Salomon Smith Barney/Global Relationship Bank will be rebranded Citigroup Corporate & Investment Bank, effective with the first quarter of 2002.
_ Smith Barney will replace Salomon Smith Barney as the brand for Citi’s private client business, also in the first quarter next year.
_ CitiCapital will be the new brand for our Equipment Finance business.
_ Citi is being incorporated into the retail identities of a number of businesses, such as CitiMortgage.
_ The consumer finance business will be known as CitiFinancial.
_ Primerica, which markets insurance and mutual funds, and Travelers, the insurance division, will continue with those brands in North America, while CitiInsurance will be the brand name for the international insurance operations.
_ Citigroup Private Bank will replace Citibank Private Bank, and Citigroup Asset Management will replace SSB Citi Asset Management.
_ Citigroup Venture Capital will replace Citicorp Venture Capital.
Copyright 2001 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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