Does Salomon Smith Barney still exist?

It’s official — Smith Barney is no more. Morgan Stanley announced today that it has renamed its U.S. wealth management business Morgan Stanley Wealth Management, dropping the Smith Barney name from the joint venture it co-owns with Citigroup Inc.

Who acquired Salomon Smith Barney?

the Phibro Corporation
Originally a private company, it went public in the late 1970s before going through a series of acquisitions and mergers. Salomon Brothers was first acquired by the Phibro Corporation in 1981, becoming known as Phibro-Salomon. In 1997, the bank merged with Smith Barney and formed Salomon Smith Barney.

Did Morgan Stanley merge with Smith Barney?

Morgan Stanley Smith Barney is Now Morgan Stanley Wealth Management. Morgan Stanley (NYSE: MS) today announced that its U.S. wealth management business, Morgan Stanley Smith Barney, has been renamed Morgan Stanley Wealth Management (MSWM).

What happened to Salomon Brothers?

Salomon Brothers, Inc., was an American multinational bulge bracket investment bank headquartered in New York. Eventually, Salomon was acquired by Travelers Group in 1998; and, following the latter’s merger with Citicorp that same year, Salomon became part of Citigroup.

Why did Salomon Brothers fail?

Although the Salomon name carried on as Salomon Smith Barney, which were the investment banking operations of Citigroup, the name was abandoned in October 2003 after a series of financial scandals that tarnished the bank’s reputation.

Is Liar’s Poker a true story?

Liar’s Poker is a non-fiction, semi-autobiographical book by Michael Lewis describing the author’s experiences as a bond salesman on Wall Street during the late 1980s. The book captures an important period in the history of Wall Street.

When did Salomon Brothers go out of business?

Salomon Brothers