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
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.
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.
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.
business consumer grow opportunity
We have the opportunity to grow the consumer business dramatically.
ambitious best business caliber carefully company decisions dedication experience future given growth lead leaders leverage management needs pace plans proud respond reviewing strategic strong structure support talent team within
We have ambitious plans for the future and significant growth opportunities for our company, and we have been carefully reviewing how we can best leverage the talent and experience within our management team in support of our goals. This is a strong management structure and a strong management team to lead our company given the needs of our business and the accelerated pace at which we must make strategic decisions and respond to the needs of our customers. I am proud of the caliber of our next-generation of leaders and their dedication to our future.
type
We're not going to do big, complicated deals. We are going to do string-the-pearls, extend-the-franchise type of deals.
mix shift strongly
We are going to shift the mix strongly to international.
clearly extending focus franchise
We have said pretty clearly that our focus is on extending the franchise transactions.
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.
good
I feel very good about our competitive position.
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.
consumer credit customer firing good growth hoped lower revenue saw terrific
We had terrific results, yet we're not firing on all cylinders. The one we're not firing on is our consumer business, which we saw good customer interaction and lower credit costs, but we also saw revenue growth was not where we hoped it would be.