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SSB Citi Asset Management combines Australian units

SSB Citi Asset Management Group of New York, a division of Citigroup, announced that its two Australian investment operations, Salomon Smith Barney Asset Management Australia (SSBAM Australia) and Citibank Global Asset Management (CGAM) will be combined.

All asset management functions previously undertaken by CGAM will be transferred to SSBAM Australia. The consolidation combines the operations of the two asset management firms of Citicorp and Travelers, which merged last year.