Charles Prince
Charles Prince
Charles Owen "Chuck" Prince IIIis an American former chairman and chief executive of Citigroup. He succeeded Sandy Weill as the chief executive of the firm in 2003, and as the Chairman of the Board in 2006. On November 4, 2007 he retired from both his chairman and chief executive duties due to unexpectedly poor 3rd quarter performance, mainly due to CDO and MBS related losses, while still receiving a $38m pay package...
ProfessionEntrepreneur
Date of Birth13 January 1950
banking benefits businesses consumer corporate generate globally helped investment offset record results seeing strength weaker
We are seeing the benefits from our investment spending, which helped generate record revenues in our international businesses and record revenues globally in our corporate and investment banking business. Strength in these franchises more than offset weaker results in our U.S. consumer business.
clearly extending focus franchise
We have said pretty clearly that our focus is on extending the franchise transactions.
mix shift strongly
We are going to shift the mix strongly to international.
behind cases chapter difficult history key major priority resolve
It is a key priority for Citigroup to resolve major cases like this one and to put a difficult chapter in our history behind us,
type
We're not going to do big, complicated deals. We are going to do string-the-pearls, extend-the-franchise type of deals.
customers expansion grow increasing integrated move pace products provide simplified
As we move in to 2006, we see significant opportunities to grow our franchises. We are already increasing the pace of our distribution expansion and working to provide our customers with a more integrated set of products and services, yet a more simplified experience.
changing culture hard improving people product terms work
This is the product of a lot of hard work by a lot of people over a year, in terms of changing and improving and strengthening the culture of the place.
expand helping jim peacemaker
Jim is really going to be helping us expand the footprint. We don't need a peacemaker internally.
consumer continues expanding face franchise good interest pricing rate
Our U.S. consumer franchise continues to face a challenging interest rate and pricing environment. I feel very good about how we're expanding internationally.
answer asking public
If you are asking me if these public perceptions had never come up, would we still have made the change, I don't know the answer to that.
bunch key miss naturally sacrifice tension
There is naturally a tension between short-term and long-term, ... The key is, you can never sacrifice your long-term growth, your long-term reputation, to the short-term. You miss a quarter, you miss a quarter. You miss a bunch of quarters, that's a different matter.
capital corporate driven excellent markets performance
excellent performance in our corporate and capital markets driven businesses.
company daily doubt extra rise true
In this new world in which we all live, as we go about our daily lives, we need to be extra vigilant, ... That's true for the company and true for each of us as individuals. I have no doubt we'll rise to the occasion.
consumer expect financial pleased quick results turn
I'm very, very pleased with our accomplishments and our financial performance. While I don't expect a quick turn in the U.S. consumer business, I do expect better results in the future.