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Banking

Weill takes hands-on retirement

Afer three years of speculation about his departure, Citigroup's CEO Sandy Weil has finally named a successor. But the story doesn't end there.

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Sandy Weill

WHEN CITIGROUP CHAIRMAN and CEO Sandy Weill announced last month that he was to hand over the role of CEO to Charles Prince, there was a slew of speculation from various interested parties. None, perhaps, was as wistful as that doing the rounds of Citi's Latin America bankers: is Chuck Prince Latin American at all?

It's not as offbeat a question as it seems. Former Citigroup co-CEO John Reed had some Latin blood flowing through his veins, and vice-chairman Bill Rhodes has long been treated as an honorary Venezuelan.

If Prince were so connected, the Latin bankers' reasoning went, perhaps his appointment would herald a resurgence of interest in the region at head office, an interest some feel has been lacking since Reed lost his battle with then co-CEO Weill in early 2000.

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