Word: citibanker
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That is how some Harvard administrators reacted when they learned students were displeased with the University's unpublicized sale of $50 million in Citibank notes and deposits, a sale made because the New York bank extended a multi-million dollar line of credit to the South African government...
After a trip to New York to meet with Citibank officials, Stevens returned to Cambridge to confer with Harvard's treasurer and other officials. Within days, the sale of the $5 million certificate of deposit and the $45 million in floating rate notes had begun...
...loan is for housing, medical care and education in the Black townships," Robert Brannan, Citibank's vice president for international public affairs, said Wednesday. "We went over all this with the Harvard people, and I thought they understood the purposes of the loan. We think it worthwhile," he added...
Brannan said that Citibank had talked to "a number of universities" since the news of its South African loan emerged. He named Princeton, Yale, and "two or three others," but said he did not know what action, if any, those institutions had taken...
Selling the Citibank holdings took Harvard until early January and cost the University an undeterminable amount "measured in the millions of dollars," Michael Thonis, a partner in the Harvard Management Co., said this week...