OK dinosaurs, put on your thinking tail spikes. Who knows what the title of this post means? Does the word “city” give it away?
This was my own personal introduction to the white dwarf star that is now Citigroup. Known as First National City Bank of New York, it cut off the New York part in 1965. And in 1976, Citibank was born (the holding company changed names two years prior).
I recall as it grew and grew, swallowing up Travelers, which swallowed Shearson Lehman’s retail ops, Salomon Brothers, Smith Barney, Primerica, (which at one point was American Can – a can maker!). I don’t have the time line right but who cares? Over the years, it ballooned.
And now it is a government agency. How sad.
The Feds can merge AIG and Citi to form another entity – PrimeAmerica!