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Sanford I Weill

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BUSINESS
March 1, 1990 | KATHY M. KRISTOF, TIMES STAFF WRITER
Wall Street is speculating that Sanford I. Weill is about to make his big comeback. Weill, chairman and chief executive of Primerica Corp., vowed to return to the financial services industry in a big way when he left Shearson Lehman Hutton five years ago after losing a power struggle with American Express' top man, James D. Robinson III. Now he's rumored to be talking to Robinson about buying Shearson, which has languished with losses, management changes and souring loans for leveraged buyouts.
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BUSINESS
July 28, 2005 | From Bloomberg News
Citigroup Inc.'s Sanford Weill said Wednesday that he would complete his term as chairman of the biggest U.S. financial-services firm, abandoning plans to leave early and start a buyout fund. "It has hurt me to read speculation that in pursuing any new venture, I might somehow find myself competing with Citigroup or acting contrary to the company's interests," Weill, 72, said in a memo to employees. "Nothing could be further from my mind."
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NATIONAL
March 24, 2003 | From Times Wire Reports
Sanford I. Weill, chief executive of brokerage firm Citigroup Inc., asked that his name be withdrawn from a list of nominees for director of the New York Stock Exchange, the chief executive of the exchange said. New York Atty. Gen. Eliot Spitzer recently said the firm's involvement in a conflicts-of-interest investigation of Wall Street brokerages made Weill an inappropriate representative for the investing public.
BUSINESS
July 20, 2005 | From Bloomberg News
Citigroup Inc. Chairman Sanford Weill, who may accelerate his departure from the world's biggest financial services company, should be allowed to go before he becomes a distraction to current management led by Chief Executive Charles Prince, some investors said Tuesday. Weill, 72, who had previously agreed to remain chairman until the 2006 annual shareholder meeting, is seeking to leave the New York-based company to start his own buyout fund, said a person familiar with the matter.
BUSINESS
December 3, 1991 | From Times Staff and Wire Reports
Insider Trading Indictment Upheld: A federal judge refused to throw out the insider trading indictment against Dr. Robert H. Willis, a New York psychiatrist who allegedly played the stock market based on information obtained from patient Joan Weill, the wife of financier Sanford I. Weill.
BUSINESS
March 8, 2003 | From Bloomberg News
Citigroup Inc. Chairman Sanford I. Weill is appealing a ruling that he must testify in lawsuits that claim his bank illegally took as much as $500 million from an employee discount-stock program. Citigroup says that forcing Weill, 69, to testify in a case brought by former brokers from its Salomon Smith Barney unit would irreparably harm the bank and set a dangerous precedent for other CEOs.
BUSINESS
June 29, 1990 | From Associated Press
A psychiatrist pleaded guilty Thursday to trading stock on inside information he obtained during sessions with the wife of financier Sanford I. Weill. "I know what I did was wrong," Dr. Robert Willis said. "I didn't know it was against a specific law, but I knew it was illegal." Willis, 51, pleaded guilty to two counts of securities fraud before U.S. District Judge Miriam Cedarbaum. He was indicted in July on 46 counts of securities and mail fraud.
BUSINESS
February 21, 1986 | JOHN M. BRODER
BankAmerica common stock shot up $1.375 a share in New York Stock Exchange trading Thursday on rumors of an impending management shake-up. The price rise, to $15.25, represented almost a 10% increase and came on volume of nearly 1.7 million shares, more than three times its average daily sales. A BankAmerica spokesman denied the rumors, saying that "no changes in senior management are being contemplated." But the spokesman, John Keane, confirmed that Sanford I.
BUSINESS
April 8, 2003 | From Bloomberg News
Richard Grasso, chairman of the New York Stock Exchange, accepted some fault Monday in the controversy that erupted over the nomination of Citigroup Inc. Chairman Sanford I. Weill to represent public investors' interests on the NYSE board. If the NYSE's nominating committee had better anticipated the reaction to the choice, "the nomination would not have been made," Grasso said. "I will take ... my share of the ownership of that." Weill withdrew his name last month after New York Atty. Gen.
BUSINESS
November 19, 1991 | VICTOR F. ZONANA, TIMES STAFF WRITER
A psychiatrist who admitted that he played the stock market based on confidential information he learned from a patient is not necessarily guilty of insider trading, a U.S. District Court judge said in a ruling released Monday. The decision, by U.S. District Judge Miriam G. Cederbaum, was based on last month's landmark appellate court decision--United States vs. Chestman--that limits the ability of prosecutors to go after certain investors who trade on confidential information.
BUSINESS
October 3, 2003 | From Bloomberg News
Citigroup Inc. bought $264 million of its stock from Chairman Sanford Weill on Thursday, the day after he stepped down as chief executive of the world's largest financial company. Citigroup said it paid Weill $47.14 a share for 5.6 million shares -- a quarter of his total holdings in the firm. The New York-based company's stock rose 25 cents to close at a 52-week high of $47.25 on the New York Stock Exchange.
BUSINESS
September 17, 2003 | From Times Wire Services
In a sudden and unexpected move, Citigroup Inc. on Tuesday said Sanford Weill would step down as chief executive on Oct. 1, three months earlier than planned, and be succeeded by Charles Prince. The news comes two months after Citigroup tapped the 53-year-old Prince as Weill's successor. Prince currently runs the company's corporate and investment bank after having been Citigroup's top lawyer.
BUSINESS
April 8, 2003 | From Bloomberg News
Richard Grasso, chairman of the New York Stock Exchange, accepted some fault Monday in the controversy that erupted over the nomination of Citigroup Inc. Chairman Sanford I. Weill to represent public investors' interests on the NYSE board. If the NYSE's nominating committee had better anticipated the reaction to the choice, "the nomination would not have been made," Grasso said. "I will take ... my share of the ownership of that." Weill withdrew his name last month after New York Atty. Gen.
NATIONAL
March 24, 2003 | From Times Wire Reports
Sanford I. Weill, chief executive of brokerage firm Citigroup Inc., asked that his name be withdrawn from a list of nominees for director of the New York Stock Exchange, the chief executive of the exchange said. New York Atty. Gen. Eliot Spitzer recently said the firm's involvement in a conflicts-of-interest investigation of Wall Street brokerages made Weill an inappropriate representative for the investing public.
BUSINESS
March 8, 2003 | From Bloomberg News
Citigroup Inc. Chairman Sanford I. Weill is appealing a ruling that he must testify in lawsuits that claim his bank illegally took as much as $500 million from an employee discount-stock program. Citigroup says that forcing Weill, 69, to testify in a case brought by former brokers from its Salomon Smith Barney unit would irreparably harm the bank and set a dangerous precedent for other CEOs.
BUSINESS
November 30, 2002 | From Bloomberg News
Citigroup Inc.'s Salomon Smith Barney investment bank has decided not to seek a role in arranging the initial stock sale for National Financial Partners Corp., a company run by the daughter of Citigroup Chairman Sanford I. Weill. Citigroup, the world's biggest financial services company by market value, is being probed by regulators for conflicts of interest.
BUSINESS
August 30, 1988 | PAUL RICHTER, Times Staff Writer
Commercial Credit Group has signed a final agreement to acquire the much larger Primerica Corp. in a cash and stock deal worth $1.7 billion, the two diversified financial services companies said Monday. Commercial Credit, run by former American Express President Sanford I. Weill, will pay one share of its stock plus $7 cash for each share of Primerica, the former American Can Co. Primerica has struggled with weak earnings and heavy debt since purchasing the Smith Barney, Harris Upham & Co.
BUSINESS
March 1, 1990 | SCOT J. PALTROW, TIMES STAFF WRITER
American Express confirmed Wednesday that it has held preliminary, exploratory talks about a possible merger or other business combination between its troubled brokerage unit, Shearson Lehman Hutton, and Smith Barney, Harris Upham & Co. An American Express spokesman said late Wednesday night that "very preliminary" discussions have been held but that no concrete proposals are on the table. The spokesman said he did not know if further discussions will take place.
BUSINESS
April 7, 1998 | STUART SILVERSTEIN, TIMES STAFF WRITER
One is a restless entrepreneurial spirit, a deal maker with a long history of buying companies on the cheap and handing off management duties to a coterie of loyal lieutenants. The other is a long-term company man, a cerebral technocrat who has been with Citicorp ever since graduating from Massachusetts Institute of Technology 33 years ago.
BUSINESS
January 8, 1992 | From Reuters
A psychiatrist who traded stocks on inside information about BankAmerica Corp. that he learned while treating the wife of financier Sanford Weill was sentenced Tuesday to five years of probation and fined $150,000. The sentence was surprisingly light, as the presiding judge had been highly critical of the psychiatrist, Robert Willis, 52, of Tenafly, N.J., for betraying the trust of his patient.
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