Citibank 2005 Annual Report Download - page 8

6 | Citigroup 2005
On April 18, 2006, I will step aside as Chairman of Citigroup.
These are not easy words to write. Citigroup and its legacy
companies have been such an important part of my life these
past 46 years that it’s diffi cult to imagine any other reality.
Citigroup has been and always will be family.
But the time is right. I take great comfort when I see the
direction in which Chuck and his team are taking our com-
pany. I walk away fully confi dent that our best days are just
ahead and that Citigroup’s new leadership has embarked on a
course that will take the company to new and greater heights.
The creation of Citigroup was the capstone of my career.
When people ask me what was the best aspect of working
in fi nancial services, my answer is always the same—that the
companies I ran helped create a better standard of living for
millions of people around the world. We did this with integ-
rity, by providing access to fi nancial resources so people could
realize their dreams, so businesses and institutions could grow,
and so communities could become stronger.
And no company has done it as well. Citigroup is in 100
countries, many for more than a century, with more products
and greater reach than all our competitors—a tribute to the
thousands upon thousands of employees who have made us
the global industry leader. We have the strongest balance sheet
and earnings capability of any of our competitors.
I’ve been privileged to lead these talented men and women.
Together we’ve witnessed some of the industry’s most dramatic
changes, but through them all, the one constant has been our
employees’ hard work and dedication to our clients and share-
holders, both of whom have been the foundation for our success.
I’ve also been blessed to work with a Board of Directors that I
consider to be not only the fi nest in the world, but one that has
set the fi nancial industry’s standards for governance and, in so
doing, has positioned Citigroup for a long and successful future.
Let me also say a word about my good friend and fellow Board
member Arthur Zankel, who died last year. Arthur was a great
human being, a leader in every sense of that word, and a gener-
ous man who believed in helping people through education. We
miss you, Arthur—but you are still with us in so many ways.
It has been a magnifi cent journey and, just as important, it has
been fun. Over the years, I’ve been known as a dealmaker and
I’ve made many in my career of which I am very proud. But
personally, the deal of my lifetime came in June 1955, when
Joan Mosher became Joan Weill. Joan has been my closest
friend and confi dante and has been there for me during the
best and worst of times, and I know that without her I would
not be where I am today.
Retiring from Citigroup does not mean I leave the stage. As
many know, I am a passionate believer in education and will
continue to work on behalf of those institutions that give
young people the opportunity to develop their minds and
prepare them to contribute to society. And in addition to my
consulting work for Citigroup, I will continue my philanthropic
activities, including leadership of the Committee to Encourage
Corporate Philanthropy, Carnegie Hall, Weill Cornell Medical
College, and the National Academy Foundation.
When I think back on my career, I was fortunate to have had
opportunities to make a difference. I’m proud that so many
employees of companies I’ve led went on to enjoy successful
careers while they provided for their families and served their
communities. I’ve met so many wonderful people and made
lifelong friendships. Citigroup will always be an integral part
of my family, and Chuck has my full support and confi dence
as he leads the company into a very exciting future.
My friends, remember always to strive for excellence and, as
you come close to accomplishing your goals, push them out a
little further and see what happens. You’ll be amazed at what
you really can do. My very best wishes to you all.
Dear Shareholders,
“ When I think back on my career,
I was fortunate to have had
opportunities to make a differ-
ence. I’m proud that so many
employees of companies I’ve
led went on to enjoy successful
careers while they provided for
their families and served their
communities.”
SANDY WEILL