Citi Posts $4.3 Billion Profit after Smith Barney Sale

On the back of the sale of Smith Barney brokerage unit, Citigroup (C: 3.1001 +2.31%) posted a $4.3bn Q209 profit, or $0.49 per share.Citi completed its sale of Smith Barney to Morgan Stanley (MS: 28.13 -1.51%) on June 1, earlier than the original estimated close in Q309. That deal earned the bank $11.1bn pre-tax, $6.7bn [...]

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