Citi Goes On The Gift-Card Offensive

OK, so Citigroup couldn’t send its brokers to Boca or Cabo or any other middle tier exotic locale. So, instead of beach time, the bailed-out banking giant handed out $3.5 million worth of gift cards

According to the New York Post, Citigroup gave the top 2,000 advisers at its Smith Barney brokerage unit – the same ones who would have been rewarded with an annual weekend getaway – debit cards worth $1,000, $2,000 and $3,000.

“Please accept this card with our gratitude and best wishes on building your success,” Citigroup wrote in a letter to the advisers last month, saying the cards were in lieu of the customary recognition trip.

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