Quietly and without too much fanfare, Citigroup president and CEO Chuck Prince is embarking on a radical restructuring of the bank that could yet give him a top place in US corporate history alongside such luminaries as Jack Welch and Lee Iacocca.
While the press and the analysts are concerned with the comings and goings of high-level executives, an indifferent share price performance and problems in Japan, Mr Prince is focused on a radical restructuring that, given Citi’s position as the world’s largest bank and one of the US’s leading corporations, could stand alongside the biggest corporate overhauls ever seen.
