Travelers Names Smith Barney Head

Travelers Inc. on Wednesday installed its 39-year-old president as head of its Smith Barney unit, initiating a sweeping management overhaul of the nation’s secondlargest brokerage firm.

James Dimon, who also was Smith Barney’s chief operating officer for the past five years, replaces brokerage chairman and chief executive Robert F. Greenhill, who resigned.

Greenhill, 59, known as an aggressive investment banker, said he was leaving to start his own business advising banking clients.

Dimon, known as a hands-on cost-cutter, oversaw Smith Barney staff reductions in recent years to boost profits.