Citigroup works to keep advisers in house

Citigroup certainly got a lot of ink during the credit crunch. We read a lot about disgruntled shareholders, but not a lot about upset advisers. Investment News now reports that the bank is in overdrive trying to keep the really big producers--and their clients--on board. Executives are "reaching out to their advisers and clients via a flurry of personal phone calls and letters, conference calls, web casts, visits to branch offices and road shows." UBS is in a similar situation. Executives have a lot to explain away, from the subprime fiasco, to various hedge fund issues and, of course, the auction rate security mess. It's unclear how many of the big whales are set to leave. Citigroup at least needs to show signs of a turnaround fairly soon.  

For more:
- here's the Investment News article

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