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New York - January 2, 2002-For the first time in more than a decade, Merrill will lose what are arguably the financial world's most-coveted bragging rights-the equivalent on Wall Street of the final baseball standings-when year-end statistics are released Monday by Thomson Financial. "Barring an unlikely opening of the floodgates of deals, it looks like Merrill is going to be knocked out of the top spot for the first time since 1989," said Richard Peterson, chief market strategist of Thomson Financial. Though Merrill has long touted the numbers as a sign of its impressive heft, the firm now says its slip from the top spot is part of an intentional drive to boost profitability. A Merrill executive said yesterday that the company has no plans to open the floodgates to catch up. The ascendancy of Citigroup's Salomon Smith Barney unit this year is a striking example of how banks have made inroads into some of Wall Street's bread-and-butter businesses, in part because of their willingness to package investment-banking services with lines of credit vitally needed by many big clients. For the complete article, click here. Salomon Smith Barney is a global, full-service investment banking and securities brokerage firm. The firm's 12,400 financial consultants are located in more than 500 offices across the United States, and they service over 7.4 million client accounts, representing nearly $1 trillion in client assets. Salomon Smith Barney is a subsidiary of Citigroup. Citigroup's Global Corporate and Investment Bank brings together Citibank, the world's most global corporate bank, and Salomon Smith Barney, a leading global investment bank and securities brokerage firm. Together they provide complete financial solutions to corporations, governments, institutions and individuals in 100 countries. Award-winning businesses include corporate and investment banking services, investment advice, financial planning and commercial insurance products. Salomon Smith Barney's top ranked equity research analysts track nearly all the S&P industry groups and hundreds of mid-and small-cap stocks globally. Salomon Smith Barney is a subsidiary of Citigroup. Citigroup (NYSE: C), the preeminent global financial services company, provides some 120 million consumers, corporations, governments and institutions in more than 100 countries with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage and asset management. Other major brand names under Citigroup's trademark red umbrella are Citibank, CitiFinancial, Primerica, and Travelers. Additional information may be found at: www.citigroup.com. Salomon Smith Barney is a service mark of Salomon Smith Barney Inc. Member SIPC.
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