Word: citibanker
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...most surprising investment move, however, was the University's quiet sale, beginning in October, of about $50 million in Citibank notes and certificates. The largest sale resulting from the University's three-year-old policy against leaving its money in banks lending directly to the apartheid government of South Africa, the transaction did not become public until mid-February, prompting criticism of the Corporation's secrecy from the Advisory Committee on Shareholder Responsibility (ACSR) and other University affiliates...
Walter Wriston, chairman of New York's Citibank, who has no M.B.A.: "We look on the M.B.A. degree as a tough filter through which people pass. It's one that lets them hit the deck running. But after you've been around a few months, nobody asks you where you went to school. They ask: 'What...
...worth $915 million at the time of the deal. Even Karl Maiden, the stone-faced star of American Express ads, should have broken into a smile. The American Express-Shearson marriage was part of a rapidly accelerating revolution in the U.S. financial world. Banks like New York's Citibank and brokerage firms like Merrill Lynch are now attempting to become nationwide financial centers that could eventually provide a shopper's choice of money services ranging from life insurance to traveler's checks. This trend got a big push in March when Prudential Insurance offered...
Walter B. Wriston, 61. Already well known as the chairman of Citibank, the U.S.'s second largest bank ($102 billion in assets), Wriston has replaced David Rockefeller as the premier spokesman for America's moneymen. A graduate of Tufts University's Fletcher School of Law and Diplomacy, Wriston has pushed Citibank into the forefront of the banking revolution symbolized by automatic teller machines. Low interest rate ceilings on passbook deposits, he maintains, discourage the savings that are desperately needed to spur investment. Says he with characteristic bluntness: "We're being forced to rip off the public...
...Corporation must not heed Citibank's cries that the $250-million loan it made to the government last fall--which led to Harvard's sale of $50-million-worth of Citibank notes and securities--went to "humanitarian" causes and should spark a reexamination of Harvard's policy. We continue to advocate total divestiture of all investments in banks lending money to the South African government or companies operating with or in South Africa...