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Citigroup Inc. (NYSE: C)
February 13, 2007
Citigroup Announces Unified, Global Brand Identity Under "Citi" Name
Underscores Commitment to Unified Company to Serve Clients and Deliver Shareholder Value
Definitive Agreement to Sell "Umbrella" to The St. Paul Travelers Companies, Inc.
Definitive Agreement to Sell "Umbrella" to The St. Paul Travelers Companies, Inc.
New York ? Citigroup today announced a corporate branding change that unites its businesses under the well-known "Citi" name and its recognizable red arc design. This decision underscores the company's commitment to bring its businesses together to serve clients worldwide.
"Our unified brand represents the promise to serve our clients as one company, as one Citi," said Charles Prince, Chairman and Chief Executive Officer. "It also speaks to our exciting future as a highly connected, responsive, and profitable global leader in financial services."
"Citi is already among the most recognized and respected brands in global financial services. Our extensive global research and analysis also confirmed Citi is a highly effective brand across many languages, markets, and technology platforms. It is how most of our clients think about us already," Prince said. "Now, through a unified brand, we will leverage this symbol to represent our commitment to providing our clients with best-in-class advice, products and service."
The company also announced that it will sell to The St. Paul Travelers Companies, Inc. the trademark red umbrella that a legacy company acquired with its purchase of Travelers in 1993. The sale is conditioned upon Hart-Scott-Rodino approval, and is expected to close in March. Net proceeds from the sale of the umbrella will offset the future costs of implementing the unified brand.
"Our research continued to show that the trademark red umbrella was more connected with insurance, specifically St. Paul Travelers," continued Mr. Prince. "We are pleased to have entered into this agreement."
Beginning in the second quarter of this year, the following businesses will begin using a silver Citi with the red arc logo: corporate and investment banking will use the brand name Citi; wealth management will use the brand names Citi Smith Barney, Citi Investment Research and Citi Private Bank; and alternative investments will use the brand name Citi Alternative Investments. A list of Citi logos is attached.
Citi's global consumer businesses, including the Citibank branch network, will maintain the signature blue Citi with the red arc brand name and signage. Also, there are no plans at this time to change the Banamex brand in Mexico. Primerica will also maintain its brand name, but it will use a new logo without the red umbrella.
While the company will do business as Citi, its legal name will remain Citigroup Inc. In addition, the names of its various affiliated legal entities will not change.
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Citi
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Major brand names under the trademark red arc include: Citibank, CitiFinancial, Primerica, Citi Smith Barney and Banamex. Additional information may be found at www.citigroup.com or www.citi.com.
Certain statements in this document are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors. More information about these factors is contained in Citigroup's filings with the Securities and Exchange Commission.