Meet the New Boss

By Gross, Dan | Newsweek, October 29, 2012 | Go to article overview

Meet the New Boss


Gross, Dan, Newsweek


Byline: Dan Gross

Citi's colorful cast of CEO characters.

Showman, Lawyer, quant, jock. No, it's not the next novel by John le Carre, author of Tinker, Tailor, Soldier, Spy. Rather, it's the intrigue-filled succession of chief executive officers at Citigroup, the massive U.S. bank that was nearly killed in the financial crisis. On Oct. 16, CEO Vikram Pandit abruptly resigned, and the company announced that he would be succeeded by a largely unknown company lifer: Michael Corbat, the fourth top boss at the company in nine years. At the time of their respective appointments, each leader possessed precisely the right qualities to make up for the shortcomings of his predecessor.

First came the showman. Sandy Weill, the up-from-Brooklyn striver, built Citi into the nation's largest financial institution. A creature of the razzle-dazzle 1990s, Weill ultimately merged Travelers Corp. with Citi, thus erasing the Glass-Steagall Act (which prohibited the marriage of investment and commercial banks) before Congress formally overturned it. But Weill's empire was full of conflicts of interest. After the dotcom crash, Citi faced a host of regulatory and legal challenges over its stock recommendations and investment banking practices. So the company turned to a lawyer to clean up the mess. Chuck Prince, a corporate attorney, brought some order to the sprawling company. But Prince's theory of extending credit seemed remarkably laissez-faire. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • A full archive of books and articles related to this one
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Meet the New Boss
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

    Already a member? Log in now.