February 13, 2001

Salomon Smith Barney Opens Satellite office in Collegetown

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If you have strolled the streets of Collegetown within the past week, you are likely to notice a new addition to the typical array of bars, stores and apartment complexes.

Last Monday, Salomon Smith Barney (SSB) opened a branch office at 407 College Avenue, in order to service old and new clients situated closer to Cornell University and the business community. A main SSB branch is already located on N. Tioga Street while the Collegetown location will serve as a satellite.

“We are pleased to be the first full financial services company to be located in Collegetown,” said Ezra Cornell ’70, first vice president at SSB. A division of Citigroup Incorporated, SSB is a global, full-service investment banking and securities brokerage firm.

Among the array of benefits that the office will provide are retail financial services including asset management, certificates of deposit, life insurance, retirement plans and checking accounts.

“Our primary focus is University staff, professors, administrative personnel and local business people,” said Bob Pochily, a SSB financial consultant.

Approximately two and a half years ago, Cornell collaborated with Herbert Dunn, senior executive vice president of SSB and Sanford I. Weill ’55, chairman of Citigroup Inc. Potential ideas were discussed regarding a SSB branch closer to the Cornell campus and plans were ultimately finalized last year.

The collegetown branch has three financial consultants on staff and one administrative assistant.

According to Cornell, Collegetown has been evolving over the years and providing more services for the community — and not just dining facilities and living accommodations.

“We will be having some initiatives, presentations and seminars to talk about various investment products,” Pochily said. “Right now we have been focused on getting up and running,” he added.

In addition, both a public relations plan and web site are being formulated, Cornell said. “It is very exciting to be here since Collegetown is such an alive and vibrant community.”

An opening ceremony is being planned for later in the year, to welcome both students and clients to the new office.

SSB has been located in Ithaca since 1941, but has switched names throughout the years due to mergers and acquisitions.

Archived article by Rachel Pessah