Citibank: A bank that ruled the world, almost

What do the the CEO of Standard Chartered, the finance minister of Pakistan, the central bank governor of the Philippines and the opposition leader in Liberia have in common? They all used to work at Citibank.

Bill Rhodes 160x186
Bill Rhodes

Citibankers were once regarded as banking’s Foreign Legion, dedicating their careers to the conquest of new countries and markets for the greater good of their bank, raising the Citibank flag in some pretty inhospitable places. The bank recruited and promoted locals, taking the brightest and the best connected in 100 countries

It came to exercise a worldwide influence unmatched by any rival. When the US government wanted assistance in resolving the debt crises of emerging countries, it turned to Citibank to intermediate with its local knowledge and banking experience.

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