Word: city
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...writing isn't quite up to her reporting. Beyond Weill, the characters seem flat and their stories just litanies of facts. But the facts speak volumes about one of the greatest businessmen of the past century. Weill doesn't get to go out a hero--at least not yet. Citi has been sullied by evidence that its stock analysts touted shares of suspect firms to win their investment-banking business, and Weill has promised to do "whatever it takes" to get the firm in order. He's nearly 70 but has shown little interest in naming a successor. Retiring...
LOVELACE: Let me give you an example--two banks, Citigroup and Bank of America. They both sell at about 12 times earnings. Bank of America pays out 40% of its income, close to a 4% yield. Citi pays out 20% of its income, about a 2% yield. If the tax law changes, perhaps Citi increases its payout to 40%, equal to Bank of America's. Do you expect Citi's price-earnings multiple to double? No. It will still sell on the basis of earnings. Over time, Citi shareholders will benefit from the extra income, but it is not going...
...well she meets her latest challenge: closing the credibility gap at financial-services giant Citigroup, after government inquiries put a cloud over the firm's reputation--and its stock. Krawcheck was hired in October from the independent stock-research firm Sanford C. Bernstein (where she was CEO) to be Citi's designated savior. Citigroup's proud CEO, Sanford Weill, personally wooed her, reorganizing a large chunk of Citi around her. Krawcheck is now CEO of a reconstituted Smith Barney, which encompasses Citi's stock-research and retail-brokerage operations...
Weill made a call on Grubman's behalf and pledged a $1 million donation from Citi to the 92nd Street Y. Linking that support to Grubman's upgrade of AT&T stock is "utter nonsense," Weill says. Yet last week Weill acknowledged for the first time that he had asked Grubman to "take a fresh look" at his neutral rating on AT&T just before Grubman turned bullish and AT&T awarded Citi a nearly $45 million investment-banking job taking public the company's wireless division. Investigators are interested in that link and the possibility that Weill sought Grubman...
...accountant of the green-eyeshade era. But in his eight years as a merchant banker at Citibank Trinidad, he helped bring the island into the world of structured finance, which involved complex deals that aided Trinidadian businesses in minimizing their tax liabilities and hedging against swings in interest rates. "Citi had the reputation of being innovative, sailing close to the wind and dominating the capital market," says Richard Young, managing director of Scotiabank, a Canadian institution with a division in Trinidad. Seereeram rose to managing director at Citibank's merchant banking arm, but he left in 1998 after clashing with...