Word: citibank
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Dates: during 1970-1979
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...more controversial move was made by Sotheby's last summer. The company announced that it had entered into an agreement with Citibank, the second largest banking organization in the U.S., to assist the bank's millionaire clients in acquiring artworks for investment. Though Sotheby's insists that the arrangement contains sufficient built-in checks and balances to dispel any suspicion of conflict of interest, many people in the art world are skeptical of any deal whereby an auction house may in effect end up supporting its own market. Says David Bathurst, Christie's New York president...
Walter B. Wriston, Citibank chairman, joining a coalition of chief executives who hope to increase business influence in New York: "In Pittsburgh, you can get 20 guys in a room and build the Golden Triangle. In New York, you can't get 20 guys to fix a parking ticket...
...court battles were fought every where, by all sides. In Paris, Iran's Bank Markazi sued the French subsidiary of Citibank to release $50 million in depos its frozen since Carter's order. In London, Bank Markazi sued for the release of $1.8 billion on deposit with the Bank of America there...
...bills also require the company's banks to make additional unsecured loans on top of any federally guaranteed funding. Some bankers are unwilling to pour more good money into Chrysler. "There is a reasonable chance that loans might not be repaid," warned Citibank's chairman Walter Wriston...
Harvard holds approximately $25 million in certificates of deposit from Chemical Bank, Citibank, First National Bank of Dallas, and Continental Illinois and roughly $200,000 worth of equity shares in Republic of Texas, Siguler said...