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In Citi Shake-Up, Broader Troubles, By Robin Sidel

429 Words2 Pages
The Wall Street Journal’s Robin Sidel wrote his 2007 article “In Citi Shake-Up, Broader Troubles,” without knowledge of the financial crisis that would begin within a year. His article centers on the turmoil found in Citigroup and the resignation of its CEO, Charles Prince. Around the beginning of the new millennium, Citigroup underwent a transformation into one of the largest banks in the world. Relentless acquisitions allowed Citigroup to have a strong presence in virtually every area of finance, from insurance to banking to stockbroking. By the time the article was published, Citigroup had assets of $2.35 trillion. Citigroup was large, but troubled. Mr. Prince’s goal was to create “One Citi.” The bank was essentially a conglomerate of multiple

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