Podcast appearances and mentions of sandy weill

On this episode of 3 More Questions, you'll hear David Novak's answers to: What's changed about leadership since you've been out of Yum? Why do you think Jamie gets a much more realistic answer when he asks his employees what compensation they think they deserve? Can you tell us about the “since we last met” exercise? What's the lesson you take from Jamie calling up Sandy Weill after years of no contact for a meeting?  ——— GO DEEPER Scale up your leadership skills in 2 minutes a day with the How Leaders Lead app — Download today in the App Store Get coaching from David by signing up to receive his Weekly Leadership Plan. It builds on each podcast episode by offering actionable steps you can take each week to incorporate the learnings from the episode into your leadership style. It only takes about 5 minutes and is a great way to start off your week! Subscribe to the How Leaders Lead podcast to ensure you never miss an episode!

When it comes to disruption, transformation, and change, perhaps no industry has experienced this more over the past decade than the financial services industry. From online and mobile banking, to FinTechs, to data analytics and AI, to changing regulations, leaders of banking and financial service institutions have had to navigate through a tremendous amount of change. On this episode of Redefiners, President and CEO of Wells Fargo, Charlie Scharf, sits down with Clarke and Hoda to peel back the covers on how he's managed through so much change over his more than 25-year career in financial services. Charlie talks about his leadership journey, from his early years working with banking legends Jamie Dimon, Sandy Weill, and Bob Lipp, to his first actions to restore trust and confidence as a new CEO at Wells Fargo during a tumultuous time for the company. He'll share his insights on how he manages culture to balance the risk of change while protecting what's working in the business, how he views FinTech companies, gaining new perspectives from board roles, and how technology and AI have transformed the financial services industry and where it's going next. We'll also hear from Tuck Rickards, a Managing Director in our San Francisco office, who will outline the barriers leaders face when implementing AI—and how to bridge them. If you enjoyed this episode, you might also like these Redefiners episodes: Leadership Lounge – Why even top leaders need a mentor Unpacking Leadership Lessons with Marriott International President and CEO Tony Capuano Front Row Seat to the Digital Revolution with Microsoft Vice Chair and President Brad Smith – Part 1 and Part 2 Private Investment Guru David Rubenstein Goes Public on How to Be a Successful Leader & Investor

The admissions director at an elite kindergarten is murdered. Briscoe and Green learn she wanted to admit a gifted Black girl, but the headmaster overruled the decision  and gave the slot to the son of a pornographer. Southerlyn discovers the pornographer scratched the back of a cement supplier who scratched the back of a real estate developer who got the headmaster an expensive apartment. McCoy tells the jury the admissions director was about to expose the arrangement when she was killed.We're talking about Law & Order season 13 episode 20 "Kid Pro Quo." Our guest is Joshua Unruh from the "In the Gutter" podcast.This episode is inspired by the controversy around business tycoon Sandy Weill and the 92nd St Y.

Gonzo Wall Street: RIOTS,RADICALS,RACISM AND REVOLUTION: How the Go-Go Bankers of the 1960s Crashed the Financial System and Bamboozled Washington by Richard E. Farley The long-hidden history of how the corrupt Wall Street investment banks of the 1960s held Congress over a barrel and got an outrageous taxpayer-funded bailout of what they owed their customers—and how little Congress and the SEC got from Wall Street in return. This set the precedent for the bailouts of the 2008 Financial Crisis—and the next Wall Street bailout. A story of corruption and financial malfeasance, it unfolds throughout the tumultuous 1960s, during the administrations of Kennedy, Johnson, and Nixon with a surprising cast of famous and infamous characters playing roles: Abbie Hoffman, Roy Cohn, Ross Perot, Donald Regan, Michael Bloomberg, Felix Rohaytn, Sandy Weill, Ken Langone, and many others. In the 1960s, the fabric of American society was torn apart by deep divisions over the Vietnam War, violence in our cities, and the senseless assassinations of President John F. Kennedy, Martin Luther King Jr., and Senator Robert Kennedy. Civil rights, as well as women's and gay liberation movements, were challenging America. Music, literature, fashion, and “substances” were transforming the culture and upending conventional morality and manners. The public, the media, and politicians, preoccupied with these dramatic changes, paid little attention to Wall Street, where a crisis was brewing that would cause more investment banks to fail than during the Great Depression. The year 1968 should have been the best of times on Wall Street. It was the greatest bull market since the Roaring '20s. The Dow was breaking records. Trading volume was exploding. A hot IPO market for high-flying technology companies was defying gravity. And a swashbuckling mergers and acquisitions wave was generating enormous profits. Despite how flush Wall Street firms looked to outsiders, in truth, they were not a thundering herd but one in need of culling. Hidden from view was the fact that many of the best-known firms on Wall Street were in very precarious financial positions. Rather than investing in desperately needed state-of-the-art computer systems, the executives of these firms overpaid themselves, leaving them overextended and overleveraged. When business exploded in 1968, they were so overwhelmed by the stacks of stock certificates piled from floor to ceiling that their antiquated back offices were unable to process them. The New York Stock Exchange (NYSE), under the oversight of the Securities and Exchange Commission (SEC), was the principal regulator of the Wall Street firms at the time. The NYSE still had many of the vestiges of the private club it was prior to the Depression-era laws that created the SEC and brought Wall Street under the control of the federal government. The NYSE even referred to itself as the “Club,” controlled by an old guard of firms that were among the most overleveraged. Through means legal, and likely illegal, this old guard kept many insolvent firms open while keeping the SEC and Congress in the dark until it was too late. With a systemic financial crisis at hand, the boom turned to bust and they went, hat in hand, to Washington for a bailout. This is the long-hidden history of how the Wall Street investment banks held Congress over a barrel and got a taxpayer-funded guarantee of what they owed their customers—and how little Congress and the SEC got from Wall Street in return. More than anything else, this set the precedent for the bailouts of the 2008 Financial Crisis—and the next Wall Street bailout. In a story that unfolds throughout the tumultuous 1960s, during the administrations of Kennedy, Johnson, and Nixon, a surprising cast of famous and infamous characters play roles: Abbie Hoffman, Roy Cohn, Ross Perot, Donald Regan, Michael Bloomberg, Felix Rohaytn, Sandy Weill, Ken Langone, and many others.

Last Sunday night, as cryptocurrency prices plummeted, Celsius Network — an experimental cryptocurrency bank with more than one million customers that has emerged as a leader in the murky world of decentralized finance, or DeFi — announced it was freezing withdrawals “due to extreme market conditions.”Earlier this week, Bitcoin dropped 15 percent over 24 hours to its lowest value since December 2020, and Ether, the second-most valuable cryptocurrency, fell about 16 percent. Last month, TerraUSD, a stablecoin — a system that was supposed to perform a lot like a conventional bank account but was backed only by a cryptocurrency called Luna — collapsed, losing 97 percent of its value in just 24 hours, apparently destroying some investors' life savings. The implosion helped trigger a crypto meltdown that erased $300 billion in value across the market. These crypto crashes have fueled worries that the complex and murky crypto banking and lending projects known as DeFi are on the brink of ruin.Eighty nine years ago today the Banking Act of 1933 — also known as the Glass-Steagall Act — was signed into law by Franklin D. Roosevelt. It separated commercial banking from investment banking — Main Street from Wall Street — in order to protect people who entrusted their savings to commercial banks from having their money gambled away. Glass-Steagall's larger purpose was to put an end to the giant Ponzi scheme that had overtaken the American economy in the 1920s and led to the Great Crash of 1929. Americans had been getting rich by speculating on shares of stock and various sorts of exotica (roughly analogous to crypto) as other investors followed them into these risky assets — pushing their values ever upwards. But at some point Ponzi schemes topple of their own weight. When the toppling occurred in 1929, it plunged the nation and the world into a Great Depression. The Glass-Steagall Act was a means of restoring stability.It takes a full generation to forget a financial trauma and allow forces that caused it to repeat their havoc. By the mid-1980s, as the stock market soared, speculators noticed they could make lots more money if they could gamble with other people's money, as speculators did in the 1920s. They pushed Congress to deregulate Wall Street, arguing that the United States financial sector would otherwise lose its competitive standing relative to other financial centers around the world. In 1999, after Sandy Weill's Travelers Insurance Company merged with with Citicorp, and Weill personally lobbied Clinton (and Clinton's Treasury secretary Robert Rubin), Clinton and Congress agreed to ditch what remained of Glass-Steagall. Supporters hailed the move as a long-overdue demise of a Depression-era relic. Critics (including yours truly) predicted it would release a monster. The critics were proven correct. With Glass-Steagall's repeal, the American economy once again became a betting parlor. (Not incidentally, shortly after Glass-Steagall was repealed, Sandy Weill recruited Robert Rubin to be chair of Citigroup's executive committee and, briefly, chair of its board of directors.) Inevitably, Wall Street suffered another near-death experience from excessive gambling. Its Ponzi schemes began toppling in 2008, just as they had in 1929. The difference was that the U.S. government bailed out the biggest banks and financial institutions, with the result that the Great Recession of 2008-09 wasn't nearly as bad as the Great Depression of the 1930s. Still, millions of Americans lost their jobs, their savings, and their homes (and not a single banking executive went to jail). In the wake of the 2008 financial crisis, a new but watered-down version of Glass-Steagall was enacted — the Dodd-Frank Act — which has been further diluted and defanged by Wall Street lobbyists.Which brings us — 89 years to the day after Glass-Steagall was enacted — to the crypto crash. The current chair of the Securities and Exchange Commission, Gary Gensler, has described cryptocurrency investments as “rife with fraud, scams, and abuse.” Yet in the murky world of crypto DeFi, it's hard to understand who provides money for loans, where the money flows, or how easy it is to trigger currency meltdowns. There are no standards for issues of custody, risk management, or capital reserves. There are no transparency requirements. Investors often don't know how their money is being handled or who the counter-parties are. Deposits are not insured. We're back to the Wild West finances of the 1920s. In the past, cryptocurrencies kept rising by attracting an ever-growing range of investors and some big Wall Street money, along with celebrity endorsements. But, as I said, all Ponzi schemes topple eventually. And it looks like crypto is now toppling. So why isn't this market regulated? Mainly because of intensive lobbying by the crypto industry, whose kingpins want the Ponzi scheme to continue. The industry is pouring huge money into political campaigns. And it has hired scores of former government officials and regulators to lobby on its behalf — including three former chairs of the Securities and Exchange Commission, three former chairs of the Commodity Futures Trading Commission, three former U.S. senators, and at least one former White House chief of staff, the former chair of the Federal Deposit Insurance Corporation, and more than 200 former staffers of federal agencies, congressional offices and national political campaigns who have worked in crypto. Former Treasury Secretary Lawrence Summers advises crypto investment firm Digital Currency Group Inc. and sits on the board of Block Inc., a financial-technology firm that is investing in cryptocurrency-payments systems.In a famous passage from his 1955 book The Great Crash 1929, my mentor, Harvard professor John Kenneth Galbraith, introduced the term “bezzle” (derived from embezzlement). Galbraith observed that the bezzle in a financial system grows whenever people are confident about the economy, and reveals itself when confidence ebbs: At any given time there exists an inventory of undiscovered embezzlement which … varies in size with the business cycle. In good times, people are relaxed, trusting, and money is plentiful. But even though money is plentiful, there are always many people who need more. Under these circumstances, the rate of embezzlement grows, the rate of discovery falls off, and the bezzle increases rapidly. In depression, all this is reversed. Money is watched with a narrow, suspicious eye. The man who handles it is assumed to be dishonest until he proves himself otherwise. Audits are penetrating and meticulous. Commercial morality is enormously improved. The bezzle shrinks.Crypto is pure bezzle — as is now being revealed. If we should have learned anything from the crashes of 1929 and 2008, it's that regulation of financial markets is essential. Otherwise they turn into Ponzi schemes filled with bezzle — leaving small investors with nothing and endangering the entire economy. It's time for the Biden administration and Congress to stop the crypto bezzle. What do you think? This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit robertreich.substack.com/subscribe

Say It Skillfully® is a show that helps you to benefit from Molly Tschang's expert guidance on the best possible ways to speak your mind at work in a positive and productive manner. In Episode 98, Mark Parsells, Founder and Managing General Partner Montpelier Ventures, shares a life journey that's included Capitol Hill, running major, global multi-billion-dollar divisions for American Express, Bank One (Chase) and Citigroup, and being Chair and CEO of three private equity and venture backed FinTech businesses. Mark shares what it was like growing up the youngest of four boys with a minister-turned-entrepreneur father, who made being at the top the only option. He talks about difficult times at home and learning to embrace the truth that parents—and leaders—are people, too. Lively political conversations over dinner led to studying political science and then working for Senator H. John Heinz III, where Mark learned how things really work. Keen to cut his own path, he shares his decision process to business school and finding his way to the private sector (and his epiphany of a $20,000 summer internship vs. his annual Senate staffer salary of $18,500!). He chronicles his remarkable ascent and impact at American Express, where he succeeded at being entrepreneurial within the corporate bureaucracy—and was invited to the annual shareholder meeting to review his strategy that brought credit cards as a form of payment to government institutions for the first time in history. With humor, he recounts another epiphany of being a “terrible junior employee!” and is not bashful that he was horrible at taking feedback (and encourages you not to do what he did…). Unexpected twists and turns—in particular, a defining wake-up call overcoming lymphoma—and his time at Citicorp after being recruited by Father of the ATM John Reed and then a massive business turnaround for Sandy Weill are both sobering and inspiring. Don't miss hearing how Mark went against everyone's advice and chose to leave behind the world of corporate jets for his true north, one of happiness and no regrets. Learn how to navigate work while being invaluable and true to yourself. Molly's thought for the week (Thank you Mark!): Do what YOU think is the right thing to do.

Say It Skillfully® is a show that helps you to benefit from Molly Tschang's expert guidance on the best possible ways to speak your mind at work in a positive and productive manner. In Episode 98, Mark Parsells, Founder and Managing General Partner Montpelier Ventures, shares a life journey that's included Capitol Hill, running major, global multi-billion-dollar divisions for American Express, Bank One (Chase) and Citigroup, and being Chair and CEO of three private equity and venture backed FinTech businesses. Mark shares what it was like growing up the youngest of four boys with a minister-turned-entrepreneur father, who made being at the top the only option. He talks about difficult times at home and learning to embrace the truth that parents—and leaders—are people, too. Lively political conversations over dinner led to studying political science and then working for Senator H. John Heinz III, where Mark learned how things really work. Keen to cut his own path, he shares his decision process to business school and finding his way to the private sector (and his epiphany of a $20,000 summer internship vs. his annual Senate staffer salary of $18,500!). He chronicles his remarkable ascent and impact at American Express, where he succeeded at being entrepreneurial within the corporate bureaucracy—and was invited to the annual shareholder meeting to review his strategy that brought credit cards as a form of payment to government institutions for the first time in history. With humor, he recounts another epiphany of being a “terrible junior employee!” and is not bashful that he was horrible at taking feedback (and encourages you not to do what he did…). Unexpected twists and turns—in particular, a defining wake-up call overcoming lymphoma—and his time at Citicorp after being recruited by Father of the ATM John Reed and then a massive business turnaround for Sandy Weill are both sobering and inspiring. Don't miss hearing how Mark went against everyone's advice and chose to leave behind the world of corporate jets for his true north, one of happiness and no regrets. Learn how to navigate work while being invaluable and true to yourself. Molly's thought for the week (Thank you Mark!): Do what YOU think is the right thing to do.

Dentistry could learn a lot from Sanford I. Weill, the former CEO of Citigroup who tried to join the Air Force until his application was denied by a dentist after examining his teeth. His major break on Wall Street came with a mundane job doing g the paperwork behind the brokers trades. Sandys success with Citigroup came from mastering the back office mundane details of Wall Street trading, banking, insurance, and finance creating value from the knowledge and details of accounting, record keeping, and every other mundane task that was mostly unknown to all the major CEOs. How many dentists could do every task from scheduling an appointment to billing the dental insurer company. Sandy Weill fired Jamie Dimon when he was 66 years old because Jamie wanted to be CEO and then Sandy retired four years later, and in that time, the ship of Citi was wrecked. Young associates share this same issue working for older dentists who swear they are about to retire, it's never in writing, the older dentists keep delaying their retirement, with nothing in writing, and eventually the relationship breaks down and the younger dentist moves on. Tearing Down the Walls: How Sandy Weill Fought His Way to the Top of the Financial World https://www.amazon.com/Tearing-Down-Walls-Financial-Journal/dp/0743247264/ref=asc_df_0743247264

Culture is dynamic and ever-evolving. Always involving people - it is fluid and can change extremely quickly. I have observed at first-hand how culture can be different even in two separate divisions of the same company – these different cultures were entirely shaped by the leaders of those divisions. One open collaborative and encouraging, the other controlling, individualistic and stifling. There seem to be so many examples of poor leadership at present, that I am left wondering - are toxic workplace cultures inevitable? After all, we are talking about work and perhaps, we should just get over it and stop being so unrealistic in expecting working environments to be safe and open. Then I think of the very best leaders I have worked with, both past and present. They build a psychologically safe environment; they give, creating a feeling of belonging and higher sense of purpose, rather than just expecting and taking the credit. So, is ‘belonging’ the antidote to the toxic workplace? Are we safe here? In his book, The Culture Code, Daniel Coyle examines how high performing groups evolve through the world. “Belonging cues are behaviours that create safe connection in groups. They include...proximity, eye contact, energy, mimicry, turn-taking, attention, body language, vocal pitch, consistency of emphasis, and whether everyone talks to everyone else in the group. Like any language, belonging cues can’t be reduced to an isolated moment but rather consist of a steady pulse of interactions within a social relationship. Their function is to answer the ancient, ever-present questions glowing in our brains: Are we safe here? What’s our future with these people? Are there dangers lurking?” Ajay Banga, the current Chairman of Mastercard, shared a story from early in his career whilst he was at Citibank. Sandy Weill, the then CEO, invited him to the senior planning group. Ajay was very nervous and looked and felt different from everyone else in the room. He explained during a podcast with David Novak that when he entered the room Sandy called him over and said: “I am delighted you are in this room - you will make us better.” This reduced Ajay’s stress and meant he was accepted and gave him a sense of belonging. “Behaviours drive culture – culture drives results.” Anant Patel, Vice-President of WEX Anant’s modus operandi comes from a deep-rooted belief, that to achieve stellar results, you must engage and build a safe environment where people can bring more of their true selves to in turn, produce their best work. A place where everyone belongs. He believes that a leader’s role is to enable people and get out of their way. To praise and not take the credit. For Anant, it is truly all about the team – “One team”. What makes Anant a servant leader? He genuinely cares about people, so it feels natural to him to... Anant has a personality and approach that is all about growth...He loves learning, which is a valuable skill that he has capitalised on to stay constantly adaptive and move forward in his career. Therefore so what? So, what are your takeaways from this article to improve the sense of belonging in your culture? Is it to be more curious about people and your team? Is it to learn from those who have skills that can enhance your career? Is it to stay where you are, with a fixed position? We all have choices to adapt and evolve…now is the time to step up. Enterprise Sales Club is now LIVE at https://www.enterprisesalesclub.com. Our purpose is to enable SaaS Sales Professionals to achieve their potential through the power of life-enhancing connections, shared experiences, and collaborative learnings. If you want to take your career to the next level, as well as improve your skills in Enterprise Sales, please contact me at adrian@adrianevans.co.uk "Culture is like holding the wind in your hand". Title came from Toni Minichiello podcast interview from Don't Tell Me The Score: Thank you Toni and Simon.

Investor, philanthropist, and author David Rubenstein, co-founder of The Carlyle Group, discusses the market sell-off and a bumpy economic recovery amid two simultaneous crises in America. The “father” of big banking, Wall Street legend and former Citigroup head Sandy Weill is working to address inequality by reforming classrooms alongside NAF CEO JD Hoye. Weill and Hoye explain education’s role in closing opportunity gaps for Black Americans, and they offer executives a way to participate. Plus, in 1962, the US markets experienced a “flash crash” in the last 70 minutes of a May trading day. One day later, a 31-year-old Warren Buffett gave an interview on his takeaways from the market’s alarming sell-off. Becky, Joe, and Andrew share an excerpt of that interview and discuss Buffett’s perspective and The Kennedy Slide. Learn more about your ad choices. Visit megaphone.fm/adchoices

Part 2 of our profile on Sanford I Weill and his role at Citigroup we will take a longer look at Citi group in our last part of this trilogy. This episode covers Sandy Weill’s children and their misdeeds into falling upward in a no consequence system. The tarnished relationship between sandy and his former protégé Jamie Dimon and we close out the episode with the end of Glass-Steagall Act. The primary source for this episode was the biography "Tearing down the Walls" by Monica Langley: www.barnesandnoble.com/w/tearing-dow…ey/1023673999

The first part of our 3 part series exploring the saga of Citigroup, the first American bank to become too big to fail. We follow the career of its billionaire CEO Sandy Weill: a rich kid from Brooklyn who had a dream to climb the corporate ladder by smashing up a million people's pensions, health benefits, salaries, and then to make a corporate monstrosity that would cook up fake documents to steal their house as well. When we talk about too big to fail banks we are talking about government sponsored entities. These are "private" banks run by private boards of directors that pay the profits to private individuals but are almost entirely funded with public (taxpayer) money. This series will study how this strange system came to be and hopefully motivate enough people to demand it end. The primary source for this episode was the biography "Tearing down the Walls" by Monica Langley: https://www.barnesandnoble.com/w/tearing-down-the-walls-monica-langley/1023673999

John Addison has been engaging and inspiring audiences with his relatable leadership message for more than two decades.  As former Co-CEO of Primerica, John has worked side by side with many of the titans of American business: Art, Williams, Sandy Weill, Jamie Dimon, Bob Lipp, Pete Dawkins, and Joe Plumeri – to name a few. John has a magnetic stage presence and is highly sought after as a public speaker.Key Takeaways:[5:31] The biggest competition Primerica faces as they target the middle class workers[9:23] How complicated your financial future actually needs to be[14:20] Buying homes and avoiding "ghost houses"[18:26] How John was able to take Primerica public in the time of no IPOs[24:58] John's views on the economy today and how the middle class' views of the system are impacting it[30:51] How reactions to bad events grow the government and how we should maybe look at it instead[34:58] The challenge to America that no politicians are talking about right nowWebsites Mentioned:www.johnaddisonleadership.com

Dean Steven Currall moderates a conversation with Sandy Weill, Former Chairman/CEO of Citigroup, and his wife, Joan Weill, followed by a discussion about the future of pension plans with Anne Simpson, Senior Portfolio Manager, Investments and Director of Corporate Governance, California Public Employee's Retirement System (CalPERS) Series: "UC Davis Graduate School of Management's Executive Speakers and Special Events" [Public Affairs] [Business] [Show ID: 24959]

Dean Steven Currall moderates a conversation with Sandy Weill, Former Chairman/CEO of Citigroup, and his wife, Joan Weill, followed by a discussion about the future of pension plans with Anne Simpson, Senior Portfolio Manager, Investments and Director of Corporate Governance, California Public Employee's Retirement System (CalPERS) Series: "UC Davis Graduate School of Management's Executive Speakers and Special Events" [Public Affairs] [Business] [Show ID: 24959]