Citigroup Willing to Sell All of Smith Barney, Schorr Says

Citigroup Inc. signaled interest in selling its remaining stake in a brokerage joint venture to Morgan Stanley this year, said Glenn Schorr, a Nomura Holdings Inc. analyst.

Citigroup Chief Financial Officer John Gerspach and Chief Operating Officer John Havens indicated a willingness to sell more than the scheduled 14 percent stake in Morgan Stanley Smith Barney if Morgan Stanley makes an attractive offer, Schorr wrote in a note to clients today, citing a recent meeting with the executives.