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Now you might think that the well-recognized Citigroup red umbrella would be considered a sacred brand symbol, and you would be wrong, naturally. The icon originally belonged to Travelers Insurance which Citigroup acquired in 1998. Newspaper ads featuring the Travelers Insurance umbrella date back to 1870. But time marches on, and Citigroup sold Travelers Life and Annuity to MetLife last year. Today, Citigroup is a monster financial conglomerate with no holdings in the insurance industry. As such, the chairman suggested the company reconsider whether or not the red umbrella is an appropriate brand symbol for the future. Oh, and strategy and emotion are not the only issues involved. There is a 16-foot, 5300 pound steel red umbrella in front of Citigroup’s lower Manhattan office, which would need a new home. Marketing Blurb thinks it is okay to close the umbrella. We believe that consumers still associate it with Travelers Insurance and not Citigroup anyway. Photo Credit: The New York Times.