John Reed's toast

John Reed may be long gone as the co-chairman of Citigroup, but he remains on the mind of his former partner, Sandy Weill.

By Hall Lux, with Jenny Anderson, Rich Blake, Lucy Conger, Justin Dini, Kevin Hamlin, Jeffrey Kutler and Justin Schack
December 2000
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Reed and Weill, of course, briefly shared the top spot after the 1998 merger of Citicorp and Travelers Group. To no one's surprise, the power-sharing arrangement didn,t last, and Reed resigned abruptly in April of this year. Last month in New York, Weill hosted a banquet at the Pierre Hotel that raised money for the Jewish Theological Seminary and honored Ivan Seidenberg, the head of Verizon. Actually, the co-head. Said Weill, according to one attendee, "I,d like to congratulate Ivan on something I,ve never done , successfully work as a co-CEO."