Citigroup's Sanford I. Weill Congratulates Travelers Property Casualty On The Inclusion of Its B Shares in the S&P 500.Business Editors NEW YORK--(BUSINESS WIRE)--Aug. 15, 2002 Sanford I. Weill Sanford I. Weill, commonly known as Sandy Weill (born March 16 1933) is a banker, financier and philanthropist. He was formerly the chief executive officer and chairman of Citigroup Inc. He served in those positions until October 1 2003 and April 18, 2006 respectively. , Chairman and Chief Executive Officer of Citigroup (NYSE NYSE See: New York Stock Exchange :C), today congratulated Travelers Property Casualty on its being named to the Standard & Poor's 500 Index. "We are very pleased that Travelers has been added to this prestigious index," Mr. Weill said. "This action by S&P affirms the quality of Travelers' business and management team." In March 2002, Travelers completed its initial public offering of 23.1% of its common equity in the largest ever IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. in the U.S. insurance sector and the fifth largest IPO in U.S. history at the time. On August 1, 2002, Citigroup announced that it will distribute to Citigroup stockholders approximately 66.9% of the common equity of Travelers. Following the distribution, Citigroup will remain a holder of approximately 9.9% of Travelers' outstanding equity securities. The distribution will be payable on or about August 20, 2002, to Citigroup stockholders of record as of 5:00 p.m. Eastern Time on August 9, 2002. Citigroup (NYSE:C), the preeminent pre·em·i·nent or pre-em·i·nent adj. Superior to or notable above all others; outstanding. See Synonyms at dominant, noted. [Middle English, from Latin prae global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company with some 200 million customer accounts in more than 100 countries, provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Salomon Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. , and Banamex. Additional information may be found at: www.citigroup.com. |
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