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
bullish growth prospects
We are very bullish on our growth prospects in India,
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.
business continued financial generate strength strong underlying
The strength of our business franchises continued to generate strong underlying financial results.
effort expertise gives growth leg team
More of our growth over the 5 to 10 years will come internationally than nationally. Having their expertise as part of the team effort really gives us a leg up.
cause examples happen history hurts legacy simply strong taking
When things happen that cause (our) legacy and history to be tarnished a little bit, it hurts all of us. It hurts me personally, ... Examples like that are simply not acceptable, and we're taking very strong action.
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.
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,
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.
along buy interest ride small
If we could see our way to a more substantial stake, we would be interested. For us to buy a small interest and just be along for the sleigh ride isn't the right model.
hope meaningful mike supportive venture
I have communicated to Mike that we are supportive of his new venture and hope to be able to make a meaningful investment.
good
I feel very good about our competitive position.
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.
late liked
I don't think we are late to the party. I would already have liked to do it.