A discussion about the merger between Citigroup and Travelers' Group

with Robert Litan and John Gutfreund
in Business
on Monday, April 6, 1998 * * * * *

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A conversation with John Gutfreund of Gutfreund & Co. and Robert Litan, director of economics at the Brookings Institution, about the huge merger between CitiGroup and Travelers' Group and its implications for the future.

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Keywords:
Travelers' Group
John Gutfreund
financial services
Robert Litan
Sandy Weill
merger
globalization
Citigroup

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    1. PeeDee  07/18/2010 09:48 AM Report

      On this April 6, 1998 date of this recording, John Gutfreund demonstrates prescience beyond belief in predicting Citigroup's future problems from management conflicts and challenges; degradation in customer service; formation of an institution without a singular strength or identity eventually leading to its breakup and its bailout among other issues.

      Some may claim John has sour grapes or that a broken clock is right twice a day, but John's comments were proving correct from the first year of the doomed merger.

      If only more people--including yours truly--had listened to John. I wish I had seen this recording in 1998--or 2007 for that matter.