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Posted February 17, 2001
The Pre-cursor to the Citigroup Model
This book is an in-depth look at the changes that occured in the banking and financial industries in the later half of the twentieth century. Phillip Zweig walks the reader through the impacts that Walter Wriston and Citibank had on the financial, economic and political landscape of the U.S.. I think this is a great read for financial professionals (especially management) who want perspective on where the industry came from and where it is likely heading. The author (Phillip Zweig) illustrates in great detail the impact that Mr. Wriston had as THE financial player of his era. The tome details the change in banking from a pseudo-utility to a legitimate business with unique opportunities and responsibilities. Mr. Wriston's story is fascinating because he truly 'thought outside of the box' (along w/ John Reed) and was a visionary, unlike his contemporaries who were hamstrung by their own preconceived notions of what banks were supposed to be. The book details a visionary company which is now (thanks to Sandy Weill) the financial model for others to attempt to replicate. The author documents some truly strange occurences in the legislative and company specific landscape (like why Citibank ended up operating out of South Dakota). A natural follow on to this book would be an examination of the person who inherited the torch as the builder of the comprehensive financial services model: Sanford Weill.Was this review helpful? Yes NoThank you for your feedback. Report this reviewThank you, this review has been flagged.