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Banking's New Era -- and New Leaders

By Mara Der Hovanesian

IMAGE CONTROL. Yet the world's largest financial outfit and most profitable public company took huge hits to its reputation as scandals erupted all over the world. Last summer, the British Financial Services Authority launched a formal investigation into improper bond trading. In the fall, Japan's Finance Ministry banned Citi from participating in its government bond auctions and the Financial Services Agency closed its private bank in the country (see BW, 2/14/05, "Damage Control in Japan").

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