Citigroup Adviser Named in Fleet Case

A financial consultant who worked for Citigroup’s Smith Barney unit timed $20 million in FleetBoston’s Columbia funds.

Reuters reports on the details surrounding Salvatore Giacalone, among the nine parties named in last week’s suit against Fleet. A Citigroup spokeswoman declined to comment, and Giacalone did not return a phone call to his office.

According to the complaint, the adviser sought to market time $15 million in the Columbia Newport Tiger fund, in exchange for $5 million invested in other funds.

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