Word: citibank
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
Manhattan's First National City Bank reacted to the Federal Reserve Board's continuing tight-money policy by lifting interest rates on personal loans, and other banks are almost certain to follow. The cost of borrowing for a new car at Citibank, for instance, goes from...
...largest bank, he approached the operation-which employed 8,000 people and had a $100 million budget-as if it were a factory whose product was processed paper. To help him run the factory, Reed recruited experienced industrial employees from Ford and Chrysler. Regarded as a potential successor to Citibank's presidency, Reed has written articles seeking to interest students in corporate careers and is now studying the electronic (paperless) transmission of credit...
...signify a change in style, Wilcox showed up at the bank dressed in tweeds and-yes-brown shoes. He is an aggressive manager who has fought his way right to the very top. In 1934, while taking night courses at New York University, he began at Citibank as a messenger boy (weekly salary: $13.25). His drive and talent impressed his bosses so much that they gave him a fellowship to Princeton. He graduated cum laude in economics...
Despite that, New York's First National City Bank is one of the most successful organizations when it comes to hiring M.B.A.s. It employs a recruiting staff of 19 and has an extensive summer-intern program. After signing up students for summer jobs the year before they graduate, Citibank executives spend as much time selling the bank to the interns as they do evaluating their abilities. Says Marni Gislason, an intern from Harvard: "The program is very effective. You run into these surprisingly young M.B.A.s who have literally flown up in the ranks of the bank. They really believe...
Bitter Pill. The toughest confrontation was between Burns and the First National City Bank of New York. Citibank's chairman, Walter Wriston, and its president, William Spencer, talked with Burns in separate arm-twisting sessions. With great reluctance, they agreed not to raise the prime rate to 6¼ as they had contemplated. The bank issued a hard-edged statement that "the base rate, which previously was determined by the free market, is now being administered by the federal authorities." All this was a particularly bitter pill for Wriston, who is a member of the Cost of Living Council...