Michael L. Corbat is CEO of Citigroup, the “world’s global bank,” with operations in more than 160 countries and jurisdictions.
Since Corbat took the helm of the New York City-based financial services firm in 2008, his mission has been to make Citi “a simpler, smaller, safer and stronger institution.”
“We believe…Citi has crossed an inflection point. We are now clearly on a path to both growth and stronger returns,” Corbat said in July at the company’s first Investor Day since the 2008 financial crisis.
“I have to tell you how proud I am of the progress we’ve made and how we’ve executed through tough decisions in terms of our capital, our balance sheet and our business model,” he told investors. “We have been rebuilding our credibility, our relationships with our regulators and, very importantly, a culture that’s based on ethics and execution.”
“We believe Citi has crossed an inflection point. We are now clearly on a path to both growth and stronger returns.”
To foster more “constructive collisions,” the CEO and other senior leaders recently gave up their offices for cubicles, Corbat told Mad Money’s host Jim Cramer.
“Information flows, there’s no doors, we come and go from each other’s spaces, we hold meetings together, there’s a trust factor there in terms of communication, and I think it’s resonating in the rest of the firm,” he said.
Corbat is a Citi “lifer” – joining Citi and its predecessor companies after he graduated in 1983 from Harvard University with a bachelor’s degree in economics. One of his prior roles was CEO of Citi Holdings, Citi’s portfolio of non-core businesses and assets. In this role, he oversaw the divestiture of more than 40 businesses and divested more than $500 billion in assets, reducing risk on the company’s balance sheet and freeing up capital to invest in Citi’s core banking business.
Corbat is No. 45 on Chief Executive and RHR International’s CEO1000 Tracker, a ranking of the top 1,000 public/private companies.
CEO (Since October 16, 2012), Citigroup
Previous Position: CEO, Europe, Middle East, and Africa
Company start date: 1983
First Position at Company: Part of fixed income sales department of Saloman Brothers (predecessor company of Citigroup)-not exactly quite sure what
Age: 57
Education: B.A. in Economics from Harvard University
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
