Word: city
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Dates: during 2000-2009
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...meeting that followed, at the attorney general's Manhattan office, between Spitzer and Charles Prince, the new head of Citi's subsidiary Salomon Smith Barney, marked the beginning of what is shaping up as a far-reaching peace treaty. Spitzer, who used a $100 million settlement with Merrill Lynch to reform stock research on Wall Street, wants a similar and more expensive pact with Citigroup to address systemic abuses in the way lucrative initial public offerings (IPOs) of stock have been showered on CEOs who sent investment-banking business to Citi. Spitzer is still digging for dirt, so any deal...
...awkward moment. Sandy Weill, the world's most powerful banker, came face-to-face with Eliot Spitzer, the toughest cop on Wall Street. Both were among the guests at a Sept. 10 lunch hosted by New York City Mayor Michael Bloomberg at Gracie Mansion. Their exchange was brief. But Weill, 69, CEO of Citigroup, indicated he was eager to talk about the ugly business that Spitzer, the ambitious New York State attorney general, has been finding in his probe of the financial behemoth. Within days a high-level session followed, and even Spitzer was impressed with Weill's sense...
Source: Citigroup presentation at Lehman Brothers conference, February 2002. All figures are for the full year 2001 Citi, which denies doing anything illegal, remains under special scrutiny from at least five investigating bodies. Citi negotiators are now leading an effort to settle all matters regarding IPO allocations and analyst conflicts with all regulators and on behalf of all of Wall Street. The Citi team met with Spitzer two weeks ago and then had an initial "global" settlement session with the Securities and Exchange Commission (SEC). The National Association of Securities Dealers (NASD) and the New York Stock Exchange...
...July, Citigroup, whose Citibank is the largest issuer, said it would settle a class action accusing two Citi-owned banks of declaring many payments late and assessing late charges even if they were received on the due date. The bank pleaded innocent, but to avoid litigation, it is shelling out a $45 million settlement, $18 million of which will go to cardholders who file claims...