Putting to rest rumors that Citigroup would sell Financial Research Corp. after acquiring BISYS, a Citi official said that the company would not do so, Reuters reports.

“It’s a hot property and a property that we will maintain because of its need in the industry,” said Andrew Smith, head of Citigroup’s North American funds and securities services. “It’s very unique. It’s very focused on a very specific operation.”

Smith added that to be thought of as a “trusted adviser and [a] one-stop shop for our customer, it’s important that we provide some level of research as well.”

The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.

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