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.
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Notes
See, generally, Robert H. Mnookin and Lawrence E. Susskind, eds., Negotiating on Behalf of Others: Advice to Lawyers, Business Executives, Sports Agents, Diplomats, Politicians, and Everybody Else (Thousand Oaks, CA: Sage Publications, 1999).
J. Dennis Hynes, Agency, Partnership, and the LLC in a Nutshell (St. Paul, MN: West Group, 2001), 126–127.
See, for example, Michael C. Jensen and William H. Meckling, “Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure,” Journal of Financial Economics 3 (1976): 305–360;
David A. Lax and James K. Sebenius, “Negotiating through an Agent,” Journal of Conflict Resolution 35 (1991): 474–493;
and John W. Pratt and Richard J. Zeckhauser, eds., Principals and Agents: The Structure of Business (Boston: Harvard Business School Press, 1985).
See, generally, Margaret Macmillan, Nixon in China: The Week that Changed the World (New York: Random House, 2007).
See, generally, Margaret Macmillan, Paris 1919: Six Months that Changed the World (New York: Random House, 2002).
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© 2013 Jeswald W. Salacuse
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Salacuse, J.W. (2013). Negotiating for Other People. In: Negotiating Life. Palgrave Macmillan, New York. https://doi.org/10.1057/9781137318749_8
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DOI: https://doi.org/10.1057/9781137318749_8
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