A push into more stable, and capital-light, wealth management and retail brokerage was made through the opportunistic purchase of 51% of Smith Barney from Citigroup.

公司伺机从花旗集团购买了51%的美邦证券，这将财富管理及零售经纪推向更稳定更轻资产化。

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The Smith Barney deal is already a watershed.

史密斯邦尼这一协议成了分水岭。

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It has already offloaded Salomon Smith Barney, an American brokerage, and Nikko Cordial, a Japanese one.

花旗已经卖掉了美国的证券经纪行所罗门美邦和日本的日兴证券。

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The only unhappier group of brokers on Wall Street are the ones working for Morgan Stanley Smith Barney-another merger whose success is still pending.

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Then again, a fee-generating business like Smith Barney might be what the new trimmed-down and de-leveraged Citi needs.

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For Citi, a spin-out of Smith Barney would move the firm more dramatically away from its financial-supermarket model than any of the other recent divestments it has undertaken.

ECONOMIST: Citigroup and Morgan Stanley