Citigroup Inc.'s investment banking subsidiary, Salomon Smith Barney, captured top honors for broker sales and execution, according to a new survey of large companies.
The investment bank received the awards as part of an annual Reuters survey of money managers, analysts, and 315 companies with market capitalizations of more than $3 billion.
The survey is primarily aimed at Wall Street, where Salomon was a powerhouse before it was bought by Travelers Group Inc. and merged with Citicorp in early 1998. But recognition for the group is a suggestion that the firm has withstood its integration with a staid commercial bank.
Other award winners were: Goldman, Sachs & Co., which was voted best investment bank; Merrill Lynch & Co., best broker research; Fidelity Investments, best fund management group; and Morgan Stanley, Dean Witter & Co., best sector research team.