Corporate Governance: A Five-Point Plan to the Best Business Practices
Institutional Shareholder Services, a leading independent analyst on corporate governance, rated Citigroup’s corporate governance practices in the top 10% of S&P 500 companies during Mr. Prince’s tenure. In 2007, ISS rated Citigroup in the top 2% of diversified financial services companies. In this speech, Mr. Prince outlines the comprehensive corporate governance and ethics practices which ISS’s founder, Robert Monks, has described as “unique, cutting edge,” and exceeding “the best practices currently required by law and in the industry.”
Inside the Current Financial Crisis
Like a slow fuse, rising delinquencies in the subprime mortgage sector spread throughout the global financial system. With very few people having lived it “from the inside,” Mr. Prince recounts his experiences at the helm of Citigroup in the wake of the current credit crisis and offers his perspectives on the actions that need to be taken to mitigate the effects and the spread of the crisis around the world.
The Art of the Deal: Mergers and Acquisitions
Charles Prince has over 35 years to brokered literally hundreds of “deals.” While he was CEO, Citigroup made the largest foreign deals ever done in Japan and Turkey, as well as a major acquisition in China and substantial transactions in Korea, the U.K., Chile and Colombia, among others. Earlier in his career, Mr. Prince was one of a small group of principal negotiators that made the largest deal ever done in Mexico as well as many deals in the U.S. and multiple foreign countries. With his extensive experience, Mr. Prince offers insights into the corporate strategy, corporate finance and management aspects that businesses need to know to successfully achieve rapid growth through acquisitions in their respective industries.
Resolving Regulatory Issues
With direct negotiating experience resolving matters with a wide variety of regulators including the SEC, the Federal Reserve, the OCC, state banking regulators, the FSA in the U.K., the FSA in Japan, the CBRC (banking regulators in China), the Department of Justice, and state insurance departments, Mr. Prince is an invaluable resource for businesses navigating the complexities of dealing with global and/or domestic regulators.
Leader of One of the Largest Companies in the World
Initially working for the company as an attorney at one of Citigroup’s predecessors in 1979, Mr. Prince worked his way up in the company over nearly thirty years: first to General Counsel, then to Chief Administrative Officer, Chief Operating Officer, Chief Executive Officer of one of Citigroup’s major businesses, and finally to CEO and then Chairman of the Board. Mr. Prince helped to develop Citigroup's culture and direction and moved the company toward its higher margin businesses, investing in areas where they had key competitive advantages. He also augmented Citigroup’s international franchise through groundbreaking acquisitions and partnerships, greatly improved Citigroup’s technology, and invested in the talent and development of its employees.