Prince on trial
The honeymoon has just ended for Sandy Weill's successor
CHARLES PRINCE has not had an easy time atop Citigroup. Since he became chief executive two years ago, America's biggest bank has paid out billions of dollars in legal settlements and the Federal Reserve would like it to improve its internal controls before making acquisitions. Mr Prince has also had to cope with the presence of his controversial predecessor, Sandy Weill, now chairman. It is never nice to be the head of the clean-up crew.
This article appeared in the Finance & economics section of the print edition under the headline “Prince on trial”
From the July 23rd 2005 edition
Discover stories from this section and more in the list of contents
Explore the editionDiscover more
The great-man theory of Wall Street
Why finance is still dominated by bold individuals
Hong Kong’s property slump may be terminal
Demographics and geopolitics will make a recovery harder
Why everyone wants to lend to weak companies
An unanticipated side-effect of Donald Trump’s election victory
American veterans now receive absurdly generous benefits
An enormous rise in disability payments may complicate debt-reduction efforts
Why Black Friday sales grow more annoying every year
Nobody is to blame. Everyone suffers
Trump wastes no time in reigniting trade wars
Canada and Mexico look likely to suffer