Citigroup to Sell More Services in Its Banks
Citigroup Inc., the world’s biggest financial services firm, said Thursday that it plans to use salespeople in its 400 U.S. bank branches to market mutual funds and other investments.
The company will train employees of its Citibank unit to do more than take deposits, make loans and provide other commercial banking products, said Joseph J. Plumeri II, chairman and chief executive of Citigroup’s Primerica Financial Services unit, best known for selling insurance door-to-door.
Citigroup, formed in last year’s merger of Citicorp and Primerica’s parent, Travelers Group Inc., said from the start that making the $37.4-billion combination work depended on such “cross-selling.”
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