Too Crowded Under Travelers' Umbrella?

Weill's daughter, Jessica, quits Travelers for more opportunity

Going to work for one's father can make for a complex relationship. That was certainly the case for Jessica M. Bibliowicz, who was firmly convinced it was a bad idea. "Dad" is none other than Sanford I. Weill, the chief executive of Travelers Group Inc. and a very tough act to follow on Wall Street. Bibliowicz spent most of her 16 years in the securities industry away from firms headed by her father. By 1994, she was running mutual-fund sales and marketing at Prudential Securities Inc. That year, she talked about joining Travelers with James Dimon, then heir apparent to run Smith Barney Inc. and all of Travelers, and Bibliowicz' friend since they were teens. Bibliowicz told Dimon about her misgivings, but he convinced her that her best opportunity was at Smith Barney, Travelers' brokerage unit. In late 1996, Bibliowicz told BUSINESS WEEK: "Jamie is the reason I came" to Smith Barney in 1994 as its mutual-fund marketing chief.

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