"God, I dare to vouch, now all financial institutions are sending people to Harvard, MIT, Stanford。。。。。 A spoonful of honey, thank you. ”

In a six-story house in Tribeca, Manhattan, Jamie Dimon took a glass of brandy mixed with honey, "Didn't you buy a townhouse on Park Avenue? Why didn't you live there?"

Zhang Chen also mixed himself a cup, and said indifferently: "The Upper East Side is very good, but there are too many rules for old money, and for people like me, Tribeca feels more comfortable." If it weren't for the fact that it was too cold, I would have preferred to stay in Ampton. ”

"The estate in Ampton is really nice. Jamie Dimon complimented, "When I came to New York last year, I saw a one-acre Southampton estate. The seller was Mrs. Jordana of the Hudson family, and the asking price was $4.5 million, which was too expensive. ”

Zhang Chen didn't think it was expensive: "$4.5 million is not expensive, you have been with Sandy for so many years, you won't even be able to get this money, right?"

Jamie Dimon snorted, didn't speak, took a sip of brandy, and changed the subject: "This lightning deal you did is really powerful, Goldman Sachs and Merrill Lynch were caught off guard, but they have a deep background and believe that they will fight back within a month." I can guarantee that everyone on your technical team will receive countless calls from headhunters today. If they don't sign a non-compete agreement, you're at a loss. ”

Zhang Chen shrugged his shoulders: "The non-compete agreement has basically been signed, but this is just a piece of paper, to prevent a gentleman and not a villain, if the other party really wants to poach people, liquidated damages and compensation are not a problem for them." ”

"It doesn't matter, the emergence of competitors is a matter of time, and no one will sit back and watch Cowyce swallow such a big piece of cake alone. All we have to do now is eat the cream and chocolate on top of the cake before dividing it. Zhang Chen smiled.

The two chatted like old friends for many years, and seemed to have forgotten the tension of the past.

There are some things that don't need to be announced, just like the meeting between the two this time, Zhang Chen invited, and Jamie Dimon gladly agreed, which in itself can explain some problems.

"Did you read the minutes of yesterday's negotiation?" Jamie Dimon shook the wine in his hand, "After the merger of the two companies, Sandy and John will be the CEOs at the same time, what do you think?"

Yesterday, Citi and Salomon Smith Barney held the seventh round of directors and negotiations, which have been very in-depth and touched on the substantive operation stage.

In the previous negotiations, the two sides did not disagree on the premise of the merger, and the biggest difference was still control.

Sandy Vale of Salomon Smith Barney and John Reid of Citibank are both top Wall Street predators, and neither wants to be trampled under the feet of the other, but there can only be one CEO of a company, so the issue of CEO selection has become the focus of contention between the two sides.

In the end, the two sides reluctantly reached an agreement with dual CEOs, meaning that after the merger, both Sandywell and John Reid would serve as CEOs of this vast financial empire at the same time.

"John would be foolish if he agreed to this offer. Zhang Chen poured another half a glass of brandy, sat on the rocking chair and shook it gently, the fireplace in the room occasionally popped out the crackling sound of burning firewood, in this cold winter night, people felt very safe.

Jamie Dimon put down his wine glass and stared slightly: "Oh? Why do you say that? Now many people in the company think that Citi has rich experience in infighting, and if the dual CEO system is really adopted, I am afraid that it will be difficult for Sandy to fight the old fox John in this political battle." ”

Zhang Chen smiled slightly: "These people are blind, and their level of seeing the problem is too shallow. It is true that Sandy is inferior to John Reid in political struggle experience. But as long as the dual CEO system is adopted, it will definitely be Salomon Smith Barney who wins the struggle. ”

Jamie Dimon picked up the glass and took a sip, his fingers trembling slightly, obviously his heart was not as calm as it appeared on the outside: "How do you know?"

"It's simple. Zhang Chen's tone was calm, "First of all, we need to be clear, why did Citi agree to merge with Salomon Smith Barney? You know, Citi's retail business is still among the top three in the United States until now, and it is far stronger than Salomon Smith Barney in terms of brand influence and financial stability." In this case, the only reason they accepted the merger was that the growth rate of the retail business was so low that Citi needed a stronger engine to propel the huge but unwieldy financial behemoth forward. ”

The merger with Salomon Brothers, the new Travelers Group, which was already one of the largest insurance companies in the United States, fills his last shortcoming in investment banking. And these businesses are all areas that Citi has always wanted, but cannot set foot in because of the restrictions of the Glasstier Act. ”

"Now that the Glasstile Act is dead in name, it is obviously unrealistic for Citi to restructure its own investment banking division, and Salomon Smith Barney is the most suitable partner for them. ”

Therefore, after the merger, the business focus of the new company will not be Citi's traditional retail business, but the investment banking business brought by Salomon Smith Barney. Zhang Chen's tone was affirmative, "Unless the level difference between the two sides is too great, whoever controls the business is the real helmsman." Citi's directors and shareholders are not stupid, maybe in the early stage of the merger, for the sake of stability, the dual CEO will be implemented for a period of time, but at most two years, once the painful period of the merger is over, John Reid will be thrown out of Citi as an outcast. ”

"If I were John Reid, I would definitely insist on Citi's leadership in this negotiation, and if he didn't take advantage of this opportunity and compromise, hehe, he could have retired early. ”

Jamie Dimon's eyes flickered, and he clapped his hands and smiled: "Great insight, by the way, what are your plans after the merger? Your stake should be able to account for 1.09% of the new company, which is one of the largest individual shareholders of Citi, you really don't want to keep a seat on the board?"

Zhang Chen squinted his eyes and said with the same smile: "Do your best, obey the destiny of heaven." ”

If Zhang Chen's Cowyce only shook the entire Wall Street, the news of the merger of Salomon Smith Barney and Citigroup shook the whole world.

On January 21, 1998, Citi and Salomon Smith Barney jointly announced that the two parties would complete a reciprocal merger within one month and re-list at the same time.

Solomon Smith Barney and Citibank shareholders will each own 50% of the upcoming Citigroup. Citibank and Salomon Smith Barney will each have nine board nomination rights.

At 11:5, Donadaire's nomination was approved. In Salomon Smith Barney's huge boardroom, Sandyvale looks in high spirits, and after reaching an agreement with Citi, the merger is a foregone conclusion, his long-cherished wish is about to be realized, and a new king has arrived!

This is supposed to be the last board meeting held by Salomon Smith Barney before the merger, and after this meeting, Salomon Smith Barney will submit a list of nine directors, each of whom is from shareholders with nominating rights.

Jamie Dimon's face was pale, he managed to get the position of CEO of Citigroup, but he did not make it to the list of nine directors, not even the list of executive committees.

Is a president who has not entered the executive committee still called a president?

This is simply an insult to him!

Sandy, you're ruthless!

Jamie Damon's eyes erupted with fire, almost unable to contain his anger.

"The last nomination right comes from Tinder, zack, what is your proposal?" Sandywell's face was slightly overjoyed, although he and Zhang Chen already had a gentleman's agreement, the other party would not nominate someone from the Citigroup faction to join the board of directors of the new Citigroup, but this kid was always a hidden danger, and he had to find a way to get him out.

"Ahem. Zhang Chen coughed, "Tinder's proposal is, Jamie Damon." ”