Word: expansionism
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Dates: during 1980-1989
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But in a recent interview Bok said he did not envision any future expansion. "I don't see them taking a larger role. I don't see anything on the horizon that is a direction the overseers want to move in."
The danger of coming away with no answer to that question, however, may prove to be the best spur to productive talks at the three-day session. The No. 1 worry for the seven leaders is the rising potential for global recession along with a painful end to five years...
Less pleasant sensations may come when the leaders contemplate the wilting international economy. Growth in the industrial world this year is expected to be a limp 2%, down from 2.5% last year. The rate of expansion of world trade is also expected to slow to 2.5% this year, down from...
But the success won Reed the daunting task of expanding the bank's consumer business, a major goal of former Chairman Wriston, who became a mentor. Reed triumphed again: he opened hundreds of new branches, bought the Carte Blanche and Diners Club credit-card companies, and launched Citicorp even more...
For Reed, 48, who has been Citicorp's chairman since 1984, the daring new policy highlights his emergence as the country's most influential banker (see box). By making such a turnabout on the loans, Reed is moving out of the shadow of his predecessor and mentor, Walter Wriston, who...