Word: wriston
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...magazine covers and TV screens, while his name frequently cropped up in everyday household discussions of mortgage rates and car loans. Overseas, his willingness to involve his agency in other countries' economic concerns earned the U.S. large amounts of economic goodwill. Even bankers like former Citicorp Chairman Walter Wriston, who tangled with Volcker on many issues, admired the Fed chief's willingness to do the dirty work of wringing inflation out of the system. Says Wriston: "It took guts to lock the wheels of the world, and I do not know of any other way it could have been done...
...Reagan years, according to another account, Reed has driven up to the same prestigious Pennsylvania Avenue address in a humble white Toyota compact. Now the whiz kid once dubbed "the Brat" is steering Citicorp on a radically different course from the one established by his expansion-minded predecessor, Walter Wriston...
...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 heavily into the consumer credit-card business by signing up 2 million new members for Citibank Visa cards. Expansion initially created staggering bank losses of more than $200 million in three years. But Reed eventually turned the consumer operations into a major moneymaker -- and helped position himself as a prime contender...
...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 was largely responsible for Citicorp's eightfold expansion between 1967 and his retirement. Wriston was also the premier spokesmen for the go-go lending policies of U.S. banks in the 1970s. Even though to some extent Reed's current action repudiates his former boss's strategy, most bankers think Wriston would...
...Brown about 600 students lives in the Wriston Quad, home of the university-built buildings that house the school's seven fraternities and two sororities. Also in the Quad are "social dorms" which are fraternities specific to Brown, often called "mellow fraternities...