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Negotiating for Other People

In: Negotiating Life

Author

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  • Jeswald W. Salacuse

Abstract

In 2004, the Japanese financial authorities discovered that Citigroup’s private bank in Japan had engaged in several improper and illegal trans-actions over a period of time. It therefore took the draconian step of closing all Citigroup’s private banking operations in the country, an action that would reduce the revenues of the world’s largest bank by $100 million a year. Coming on the heels of other scandals in Citigroup’s far-flung operations, the closure of its private banking business in Japan was a particularly harsh blow that needed a serious response from the bank’s leadership.

Suggested Citation

  • Jeswald W. Salacuse, 2013. "Negotiating for Other People," Palgrave Macmillan Books, in: Negotiating Life, chapter 8, pages 93-109, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-31874-9_8
    DOI: 10.1057/9781137318749_8
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