A tale of one Citi?
The final outcome of a much-rumoured rebranding exercise was not much of a surprise.
As soon as the Citigroup moniker was introduced for the entities that were Schroders Salomon Smith Barney Nikko Citibank (to name just a few), the investment bankers were worried that one day they would lose traditional names to which they were so attached. But it wasn’t long before they started answering their phones with a curt "Citi". So the final outcome of a much-rumoured rebranding exercise was not much of a surprise.
And yet one cannot help but be a little bit disappointed that they’ve not managed to put all the businesses under one umbrella name. Whoops! We can’t say that any more; the umbrella is no longer there.
But while Chuck Prince claims: "Our unified brand represents the promise to serve our clients as one company, as one Citi," and that "extensive research shows Citi is a highly effective brand across many languages and markets," – it seems that there is still a need for Citi Smith Barney (wealth management), Citi Investment Research, Citi Private Bank and Citi (the corporate and investment bank).