S&P Gains Smith Barney's Global Benchmark Index Business

November 12, 2003 (PLANSPONSOR.com) - Citigroup has agreed to transfer Smith Barney's global benchmark index business to Standard & Poor's Index Services.

The Smith Barney indices cover more than 7,500 companies in 52 markets around the world and offer free float-adjusted index history back to 1989. The indices known as the SSB Global Equity Index System will be renamed S&P/Citigroup Global Equity Indices.   S&P’s existing indices will not be affected by the transaction and no changes to the S&P/Citigroup index methodology are foreseen, according to a news release.

S&P/Citigroup constituent issues will be classified according to the Global Industrial Classification Standard, bringing the benchmarks in line with globally accepted standards used by index providers and investors worldwide. The indices will also continue to be available to clients under their former sector classification scheme.

Additionally, the calculation of the S&P/Citigroup indices will be transitioned over to S&P Index Calculation Engine (SPICE), the operational system S&P uses for its investable indices worldwide.   Index methodology, additions/deletions, and performance data are available to the public through the Web site  www.equityindex.citigroup.com .

S&P also announced that as part of the transition, index staff from Smith Barney will join S&P’s in the New York and London offices.