Editing Citigroup (section)

===Travelers Group (1986–2007)===
[[File:Travelers logo.png|thumb|The corporate logo of Travelers Inc. (1993–1998) prior to the merger with Citicorp]]
Travelers Group, at the time of the merger, was a diverse group of financial concerns that had been brought together under CEO [[Sandy Weill]]. Its roots came from Commercial Credit, a subsidiary of [[Control Data Corporation]] that was taken private by Weill in November 1986 after taking charge of the company earlier that year.<ref name=Merge/> Two years later, Weill mastered the buyout of [[Primerica Financial Services]]—a conglomerate that had already bought [[life insurance]] company A L Williams as well as [[brokerage firm]] [[Smith Barney]]. The new company took the Primerica name, and employed a "[[cross-selling]]" strategy such that each of the entities within the parent company aimed to sell each other's services. Its non-financial businesses were [[Corporate spin-off|spun off]].

In September 1992, [[Travelers Insurance]], which had suffered from poor real estate investments<ref name=Merge/> and sustained significant losses in the aftermath of [[Hurricane Andrew]],<ref>{{cite news | url=http://content.time.com/time/magazine/article/0,9171,158008,00.html | title=Survival Insurance | magazine=[[Time (magazine)|Time]] | date=June 24, 2001}}</ref> formed a strategic alliance with Primerica that would lead to its amalgamation into a single company in December 1993. With the acquisition, the group became Travelers Inc. Property & casualty and life & annuities [[underwriting]] capabilities were added to the business. Meanwhile, the distinctive Travelers red umbrella logo, which was also acquired in the deal, was applied to all the businesses within the newly named organization. During this period, Travelers acquired [[Shearson Lehman]]—a retail brokerage and asset management firm that was headed by Weill until 1985<ref name=Merge/>—and merged it with Smith Barney.

====Ownership of Salomon Brothers (1997–2003)====
In November 1997, Travelers Group (which had been renamed again in April 1995 when they merged with Aetna Property and Casualty, Inc.), acquired [[Salomon Brothers]], a major [[Bond market|bond dealer]] and [[bulge bracket]] [[investment bank]], in a $9&nbsp;billion (~${{Format price|{{Inflation|index=US-GDP|value=9000000000|start_year=1997}}}} in {{Inflation/year|US-GDP}}) transaction.<ref>{{cite web | url=http://edgar.secdatabase.com/2439/104746997006335/filing-main.htm | title=Travelers Group, Form 8-K, Current Report | publisher=[[U.S. Securities and Exchange Commission]] | date=November 28, 1997}}</ref> This deal complemented Travelers/[[Smith Barney]] well as Salomon was focused on fixed-income and institutional clients, whereas Smith Barney was strong in equities and retail. Salomon Brothers absorbed Smith Barney into the new securities unit termed Salomon Smith Barney; a year later, the division incorporated Citicorp's former securities operations as well. The Salomon Smith Barney name was abandoned in October 2003 after a series of financial scandals that tarnished the bank's reputation.<ref>{{cite news | url=http://www.businessinsider.com/the-slow-death-of-smith-barney-2012-6 | title=Morgan Stanley Is Killing 'Smith Barney' — Here's The Story Of How It Died | first=Ben | last=Duronio | work=[[Business Insider]] | date=June 12, 2012}}</ref>