Word: weill
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...Dreams and Big Deals Citigroup CEO Sandy Weill announced in July that he will step aside as leader of the world's largest banking institution [BUSINESS, July 28]. In 1997 we traced the arc of the legendary financier's rise, when he was chairman of the company then known as Travelers Group...
...Weill] is known to keep reams of business information in his head?for instance, precisely when he stomped out as president of American Express after clashing with then CEO James Robinson. 'August 1985,' he says, correcting a reporter about the time of the event. In a decade of almost nonstop dealmaking since then, Weill has not only clawed his way back but last week was being hailed as the new king of Wall Street after Travelers sealed a $9 billion deal to acquire Salomon Bros., one of the world's largest bond-trading houses. Says Weill, 64, of his odyssey...
Banking giant Citigroup, for example, just raised its annual dividend 75% to $1.40--very timely for CEO Sandy Weill, who is retiring from that role at the end of the year but is staying on as chairman. With a net worth of $1 billion, it's not as if Weill needs the money. Still, his 22 million Citi shares will spin off $27 million a year in after-tax income, up from $11 million. "That income stream only comes because I've taken the risk along with the other shareholders in this company," Weill told Time...
Born and raised in Los Angeles, Prince began his career as an attorney for U.S. Steel before joining Commercial Credit as general counsel in 1979. Prince met Weill when Weill took over that company in 1986, and the two forged a long run of acquisitions--all negotiated by Prince--from Primerica to Travelers to Shearson to Salomon Brothers to Citicorp. Prince gained the upper hand as Weill's successor last year when Weill asked him to run the firm's investment banking business and get Citi out of Spitzer's cross hairs...
Prince, a self-described workaholic, lives in Manhattan, has a weekend home on Nantucket, Mass., and keeps a boat at Stamford, Conn. "At least it was there," he says of the boat he hasn't set foot on in nearly a year. He and Weill, another confessed workaholic, share a hearty chuckle over that, underscoring their delight in their busy schedules. But Prince, who is divorced with two grown children, has found time for romance. This September he will wed Margaret Wolff, another high-powered attorney, and honeymoon in Italy. After that, it's back to building a name--this...