Citigroup Inc. will be dumped from the Dow Jones industrial average next week, to be replaced by Travelers Cos. Inc. — Citi's former insurance partner in a failed attempt at the financial supermarket concept.
Theodore Kovaleff, the bank and thrift analyst at Broad Street Securities in Plantation, Fla., said the choice was ironic given that Citi spun off Travelers in 2002, less than five years after the companies combined with great fanfare.
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