Before the recent merger that created Citigroup, life was complicated enough for Mary Alice Taylor, head of Citibank's operations and technology division.

Behind the hoopla surrounding that record-shattering transaction was a back-office restructuring of the old Citicorp, a huge 18-month project that is still a half-year from completion. Ms. Taylor said it is "pretty much on track," which may be small comfort now that the integration of the old Citicorp and Travelers Group is looming.

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