The merger of the Travelers Group and Citicorp into Citigroup is expected to create one of the most powerful financial services organization in the world. Within that, Citigroup is creating what it hopes will become one of the largest money managers in the world.
Citigroup has combined Salomon Brothers', Smith Barney's and Citibank's asset management groups in a new business unit called SSBC Asset Management. This new entity could soon join a handful of the world's largest asset managers. It how has $292.3 billion in assets under management for retail, institutional and high net worth clients.