Citicorp Faces the World: An Interview with John Reed

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John S. Reed, chairman and CEO of Citicorp, has a clear ambition: to create the world's first truly global financial institution. Citicorp's scale may make it the only U.S. bank with the potential to do this. Still, its precarious balance sheet constrains flexibility and growth. Reed proposes a radical restructuring of international banking: "Imagine a scenario in which 10 or 12 international banks, much like the 5 or 6 giant oil companies, share the capital and risk associated with different parts of the business."
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