Proposed Citicorp/Travelers Merger Gets Muted Response From FX Market
BANKS
NEW YORK--Initial reaction from forex industry professionals to the merger of Citicorp and the Travelers Group, which incorporates Salomon Smith Barney, is surprisingly mild considering that the colossal $140 billion alliance marks the world's largest-ever merger and involves the world's largest forex trading bank. However, several sources do note that the addition of Salomon Smith Barney will enhance Citi's already broad customer base, further reinforcing its stronghold.
The announcement, which
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