Sandy Weill

  • News

    Bank CEOs Didn’t Have BlackBerries Before BlackBerries Were Available, Former Bank CEO Said

    And that’s just one of the amazing, inspiring and self-congratulatory stories with which 81-year-old Sandy Weill—who stepped down as Citi’s CEO the year the first proper BlackBerry smartphone was released—sent out this year’s crop of UC-Davis MBAs into the world.

    / Jun 17, 2014 at 11:05 AM
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    News

    Sandy Weill Didn’t Pay $43.7 Million To Live At 15 Central Park West And Read His Copy Of Cat Fancy A Week After It Hit Newsstands

    It pays to be an employee at 15 Central Park West. Author Michael Gross reports in House of Outrageous Fortune, his new book about the behemoth condo building, that the average worker there made $22,500 in tips during the holiday season in 2011, give or take a few Benjamins…Not bad for tending to a tower […]

    / Apr 7, 2014 at 10:00 AM
  • sandyweillgreenwich

    News

    Sleep Where Sandy Weill’s Son Hath Slept

    The former Citigroup chairman bought the property next to his house in Greenwich hoping it’d become “a family compound,” and while his son Marc built a house on it and lived there for four years, in 2008 he sold it back to dad and split for NYC. So! What do you get for $14 million […]

    / Mar 14, 2014 at 1:51 PM
  • 220px-Sanford_Weill

    News

    Sleep Where The Woman Who Made Sandy Weill’s Bed Hath Slept

    When Sandy Weill sold his penthouse at 15 Central Park West for $88 million — the most expensive home in city history for more than twice what he had previously paid — it made headlines around the world. But now, The News’ Matt Chaban has learned, Weill is quietly trying for an even bigger flip, […]

    / Feb 12, 2014 at 5:18 PM
  • sandyweillyacht

    News

    Dan Loeb Bought Himself A Yacht

    Remember when Sandy Weill decided to sell all his belongings? Included in the fire sale was a 200-foot yacht called April Fool, which the former Citigroup CEO was trying to unload for $69.5 million, before slashing the price at least a couple times.

    / Apr 16, 2013 at 4:30 PM
  • News

    Vikram Pandit Not Feeling Sandy Weill’s Break-Up The Banks Call

    About a month ago, retired Citi CEO Sandy Weill set his alarm an hour early, got out of bed when it was still dark, ate a piece of rye toast, told Joan he’d see her when he’d see her, took the elevator downstairs to wait for the car that drove him out to Englewood Cliffs, and went on CNBC to proffer a small suggestion to Wall Street: break up the big banks. Perhaps you heard about it? Not many people were receptive to the notion of Weill giving them advice on the matter, which may or may not have had something to do with the fact that in his day, Weill couldn’t get enough of big banks and was the man responsible for cobbling together the behemoth known as Citigroup, an institution so huge it can barely support its own weight. The response by most, in fact, was “Shut it, you old bag.” But what about Vikram Pandit, the lucky guy who inherited the place? What did he think of Weill’s tip? After giving it some good thought– really and truly considering it– for a few weeks, he’s decided to take a pass:

    Citigroup’s chief executive has knocked back the idea of big banks being split up after calls from people such as his predecessor Sandy Weill.

    But not for the reasons you might think! Pandit actually agrees with Sando because if you think about it, Citi’s already been broken up and is basically the bank it was before the merger that resulted in it needing firefighters to use a giant pulley system to lift it out of bed and get around every day.

    Pandit said Citi, formed in Mr Weill’s time with mergers such as the acquisition of Travelers in 1998, had already gone back to the basics of banking, and aside from some global markets businesses had sold most of the units from that deal. “What’s left here is essentially the old Citicorp,” he told the Financial Times. “That’s a tried and proven strategy. Why did it work? Because it was a strategy based upon operating the business and serving clients and not a strategy based on dealmaking. That’s the fundamental difference.”

    So we’re all on the same page here.

    Citi Chief Rejects Calls For Bank Splits [FT]

    / Aug 21, 2012 at 1:07 PM
  • News

    JPMorgan: Not Breaking Up Any Time Soon

    One silly thing to think about JPMorgan’s executive reshuffling announced today is “fuck you Sandy Weill!” Before today JPMorgan looked a bit like a loose confederation of financial services businesses, including in particular three different institutional units: the Global Corporate Bank, a bank that lends money to companies, the Investment Bank, an investment bank that […]

    / Jul 27, 2012 at 12:24 PM
  • News

    Sandy Weill Isn’t Fooling Charlie Gasparino

    “Even so, it’s hard to take Weill seriously. First this is a man with an ego the size of the bank he created. People who know him say he needs media attention like an alcoholic needs a stiff drink, and he’s gotten precious little of it since retiring from the banking business six years ago.” […]

    / Jul 25, 2012 at 6:38 PM
  • News

    OH NO YOU DI’INT!

    [via PIMCO, earlier]

    / Jul 25, 2012 at 1:52 PM
  • News

    Get In On Sandy Weill’s Blow-Out Sale Today

    For reasons that are not yet entirely clear, Sandy Weill is selling all his worldly possessions. (He claims he and the wife are “downsizing a little bit” but this smacks more of someone having a feng shui attack.) Earlier this month it was Sando’s 15 Central Park West penthouse, which was bought for $88 million […]

    / Dec 22, 2011 at 1:19 PM
  • News

    Sleep Where Sandy Weill Hath Slept

    In the market for a 6,744-square-foot penthouse with views of Central Park and the opportunity to run into Lloyd, Loeb or Sting in the elevator? Sandy Weill’s got something you might be interested in. It’s his 15CPW apartment and the Journal reports it could be yours for $88 million, merely double what Weill paid for […]

    / Nov 11, 2011 at 3:05 PM
  • News

    Compensation Practices Found To Have No Bearing On Financial Crisis, Says Panel

    No, just messing with you. Banker pay “fueled risk that hobbled the economy,” according the Financial Crisis Inquiry Commission’s report, released today.

    / Jan 27, 2011 at 10:25 AM
  • News

    Vikram Pandit Feels Like The Market Is Finally Showing Citi Some Love

    For the last few years or so, Citi has been shown relatively little respect by market participants. That may have had to do with the fact that the bank was not a very desirable asset, having decided during the Sandy Weill era that big is beautiful. Unfortunately the C went a little too far with […]

    / Dec 16, 2010 at 2:27 PM
  • News

    Sandy Weill Says Start Demanding A Little R-E-S-P-E-C-T

    You know, it’s really not that easy being Sandy Weill. Most if not all the institutions at which he spent significant time in his life at get zero respect, and even those on the inside have no pride (in fact they’re downright embarrassed to tell their friends and family where they are all day). Call […]

    / Mar 26, 2010 at 12:28 PM
  • News

    Sandy Weill Is Sad About Citi

    Talk whatever shit you want about the former Citi chairman, and I’m sure you already have, but the man has feelings. Lots of ‘em, which he unloaded on the Times over the weekend. Sandford looks at his old firm and his heart bleeds for what it’s become, namely a place where no one will take […]

    / Jan 4, 2010 at 10:10 AM
  • News

    Citi To Stay Inefficiently, Unprofitably Huge

    For those of you losing sleep over the thought of shrinkage at the house of Citi, DO NOT FEAR: despite calls by persons with a clue, the great big behemoth wants you to know that’s never going to happen. On a conference call yesterday, chief financial officer Gary Crittenden told analysts– worried that this last […]

    / Jul 24, 2008 at 9:36 AM

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