Citi Gets A New Prince

Citigroup legend Sandy Weill hands the top job to trusted colleague Charles Prince. But does King Sandy's power really come with it?

After 17 years of anonymous toil helping build Sanford Weill into a Wall Street legend, and Citigroup into the largest banking institution in the world, Charles Prince has earned his moment in the spotlight. The question is, Will he ever get it?

Weill, 70, announced last week that he will step aside as Citi CEO at year's end and that Prince, 53, will succeed him. But Weill won't give up the chairman's title until 2006, and he peppered his public remarks with reminders that he will remain a force at Citi. "My brain won't stop," Weill assured analysts during a conference...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!