Sanford I. “Sandy” Weill (b.1933) is an American banker, financier, and philanthropist. He is a former chief executive and chairman of Citigroup, formed from the 1998 merger of his company Travelers Group with Citicorp—the largest merger in history at the time.
Born in Brooklyn, New York, Weill received a Bachelor of Arts degree in government from Cornell in 1955 before launching a flourishing career on Wall Street. He formed Citigroup in 1998 with a $140bn merger of Citicorp, the biggest banking group in America, and Travelers Group, an insurance company.
Weill built Citigroup through acquisitions—under his leadership, the company experienced extraordinary growth and acquired subsidiaries in Asia and Eastern Europe. His standing was blemished when Citigroup was accused of having contributed to the many scandals that tore through corporate America after the dotcom boom. Weill stepped down as CEO in 2003 and as chairman in 2006. Weill stepped down as CEO in 2003 and as chairman in 2006.
In retirement, Weill focused on his longtime philanthropic undertakings, including the National Academy Foundation, a network of career academies for high school students that he founded in 1982. Weill also raised money to modernize Carnegie Hall in New York City and served as a Cornell Trustee for many years. In 1998, he endowed Cornell’s medical school, now known as the Weill Cornell Medical College.
More: Wikipedia • READ: Works by Sanford I. Weill
It’s the new management’s job to look at the world as it changes, and how do we look at change and take advantage of change, rather than put our head in the ground.
—Sanford I. Weill
I think we are a product of all our experiences.
—Sanford I. Weill
Topics: Experience
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