Word: wriston
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...Walter Wriston, former chairman of Citicorp, the largest U.S. bank, observes, "I have great trouble in knowing the difference between insider information and a very fine research report." On Wall Street, says an SEC official, "knowledge is power is money. It's worth a fortune." Deciding whether that fortune is ill gotten is one of the regulators' most forbidding tasks...
Should Volcker stay put, Wall Street insiders speculate that the World Bank job could go to one of two other candidates. They are John Whitehead, 63, Deputy Secretary of State and former co-chairman of the investment firm of Goldman Sachs, and retired Citibank Chairman Walter Wriston...
...savings services. As a result, Merrill Lynch was able to breeze past the collapse of the '60s go-go market and, as the deregulation era dawned, to become a serious contender for retail-banking customers. Asked in 1979 to describe the financial institution of the future, Citicorp Chairman Walter Wriston replied without hesitation, "Don Regan already runs it. It's called Merrill Lynch...
Over the past five years financial powerhouses, including Prudential-Bache and Shearson Lehman/American Express, have become banks in everything but name. Said Walter Wriston, former Citicorp chairman: "The bank of the future already exists, and it's called Merrill Lynch." Three weeks ago, Equitable Life, the nation's third-largest insurer, joined the parade by paying about
...financial revolution is now giving birth to a new breed of banker, perhaps best symbolized by Citicorp's Reed, 45. The boyish-looking chairman, who was appointed last June as Wriston's successor, is a consumer-banking specialist with an affinity for long-shot risks. Reed's hits and misses during his career have both been spectacular. In 1980 and 1981 he showered the country with 26 million letters inviting consumers to apply for Visa cards. Many of them fell into the wallets of poor credit risks, and Citicorp rang up some $75 million in bad debts...