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Citigroup Inc. (NYSE: C)
December 21, 2006
Wharton School and Citigroup Global Wealth Management Announce Partnership to Aid the Wharton Global Family Alliance
Gift from Citigroup Global Wealth Management Will Support Scholarly Research for Three Years
Philadelphia, PA – The Wharton School of the University of Pennsylvania and Citigroup Global Wealth Management have joined together to further the research and scholarly work of the Wharton Global Family Alliance (WGFA).
The three-year term gift will establish Citigroup Global Wealth Management as the lead contributor for the Wharton Global Family Alliance, helping further the Alliance’s research and teaching mission, with its primary focus on emerging issues in family business. It will be applied to promote study in the areas of philanthropy, wealth management and governance. Citigroup Global Wealth Management and the Wharton Global Family Alliance have already begun to collaborate on a global wealth management study that will illuminate the structures employed by private family offices.
“Family businesses are vital to the global economy and deserve serious study,” stated Wharton School Dean Patrick Harker. “The Wharton School is proud to join with Citigroup Global Wealth Management to develop preeminent research and teaching curricula that will benefit family businesses as well as the broader world economy.”
“It is exciting to see a leading business school expand its curriculum to address the wide-reaching impact that wealthy families and their businesses have on philanthropy and the economy, locally and internationally. We are honored to play a role in moving Wharton’s academic agenda forward and look forward to providing resources and sharing intellectual capital,” said Todd S. Thomson, Citigroup Global Wealth Management Chairman and CEO.
Thomson is a graduate of the Wharton MBA program, and currently serves as a member of the Wharton Graduate Executive Board. He also is chairman of the Wharton Leadership Advisory Board. Citigroup
Citigroup (NYSE: C), the leading global financial services company has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney and Banamex. Additional information may be found at www.citigroup.com
Global Wealth Management
Citigroup Global Wealth Management is a business of Citigroup Inc. and comprises Smith Barney Private Client Group and Smith Barney Research, divisions of Citigroup Global Markets Inc., (Member SIPC), and The Citigroup Private Bank. Citigroup and the Umbrella device are trademarks and service marks of Citicorp or its affiliates and are used and registered throughout the world. Smith Barney offers a full suite of investment services, including asset allocation, private investments and lending services, hedge funds, cash and portfolio management, as well as retirement, education and estate planning. Smith Barney Global Equity Research covers companies representing 90 percent of the market capitalization of the major global indices. The Citigroup Private Bank, one of the largest private banking businesses in the world, provides personalized wealth management services for clients in more than 30 countries, including a full range of portfolio management and investment advisory services from Citigroup Asset Management, structured lending and banking services, as well as the expertise of Citigroup's Global Corporate and Investment Bank. Additional information may be found at: www.citigroup.com.
The Wharton Global Family Alliance
The Wharton Global Family Alliance (www.wgfa.wharton.upenn.edu) was formed in 2004 through an agreement between the Wharton School and the CCC Alliance. It is a premier knowledge leader in family business research and houses faculty considered global leaders in business research. The mission of the Wharton Global Family Alliance is to enhance the marketplace advantage and social wealth creation contributions of global families through thought leadership, knowledge transfer and the sharing of ideas and best practices. Wharton GFA focuses its research in key issues affecting family businesses research in the areas of wealth management, philanthropy, and family business governance, combining two highly credible and complementary sources of insight—practical expertise of highly successful global families and rigorous scholarly analysis from Wharton faculty.
The Wharton School of the University of Pennsylvania
The Wharton School of the University of Pennsylvania -- founded in 1881 as the first collegiate business school -- is recognized globally for intellectual leadership and ongoing innovation across every major discipline of business education. The most comprehensive source of business knowledge in the world, Wharton bridges research and practice through its broad engagement with the global business community. The school has more than 4,600 undergraduate, MBA, executive MBA, and doctoral students; more than 8,000 annual participants in executive education programs; and an alumni network of more than 81,000 graduates.
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Citigroup
Citigroup (NYSE: C), the leading global financial services company has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney and Banamex. Additional information may be found at www.citigroup.com.