Citibank 2006 Annual Report Download - page 19

The date was November 2, 2006 and some-
thing very different was about to happen as
the doors opened to our new branch at 491
Boylston Street in Boston.
Not only was this Citibank’s fi rst foray into the Boston
marketplace, but we were about to begin an important
pilot, which if successful, could reach beyond Boston and
touch many of America’s most important markets.
This same Citi branch would include Citi Smith Barney,
our premier wealth management business, bringing togeth-
er our banking and brokerage services in the same location
and ending a year in which we opened a record number of
branches around the world.
In effect, this pilot program would help showcase the
power of one Citi to our Citibank and Citi Smith Barney
clients in Boston (also in Philadelphia) by offering them
a broader array of retail banking, commercial lending,
mortgages, and investment products.
Anne Greenwood, who manages the Citi Smith Barney
side of the business, and Tim Sullivan, who runs the
Citibank side, knew they were in on something important.
“It’s exciting—and a little nerve-wracking—to pioneer
new ways of growing our company and changing how we
reach out to and serve clients,” Anne said.
Tim agreed: “If we’re successful—and I’ve no doubt we will
be—what we’re doing here could help grow the business
signifi cantly. Imagine the possibilities when we put more
and more of the company’s resources and products at our
clients’ easy disposal.”
Tim’s point was underscored a few weeks after the opening.
A woman entered the branch to ask about CD rates. After
fi elding a few questions about her banking relationship, the
service rep—realizing the woman also needed wealth man-
agement services—simply walked her across the branch
fl oor to the Citi Smith Barney rep. Soon after, she trans-
ferred a considerable sum to Citi Smith Barney.
That might never have happened had it been Citibank or
Citi Smith Barney alone.
Anne Greenwood and Tim Sullivan in Boston