Wednesday 27 April 2011

Banker to the World: Leadership Lessons From the Front Lines of Global Finance - William Rhodes

Banker to the World: Leadership Lessons From the Front Lines of Global Finance - William Rhodes



Legendary Citigroup executive, Bill Rhodes taps into a half-century of achievement to present an inside look at global business and what leaders need to know to succeed

With a foreword by Paul Volcker, former Chairman of the Federal Reserve

There are few financial leaders who have a more blue chip reputation than William Rhodes, Vice Chairman of Citigroup, and a mainstay at the banking and finance titan for more than a half-century. And in Banker to the World, Rhodes looks back at his more than five decades at Citi to impart to readers vital lessons and opinions on crisis management, effective and responsible leadership-and the role of diplomacy in negotiating with everyone from heads of state to submachine gun toting Sandinistas. Absorbing, wise, and filled with indispensable lessons, fascinating anecdotes, and an unmatched perspective on global finance during one of the most eventful 50 years in human history, this promises to be one this era's most talked-about business memoirs.
  • Uses real-life examples of the how leaders of any size organization can heal internal rifts, counteract indecision, and manage change globally
  • Rhodes is frequently interviewed by the media, including the Financial Times, The New York Times, and The Wall Street Journal
William (Bill) Rhodes (New York, NY) recently announced his retirement as Senior Vice Chairman of Citigroup Inc. and the Chairman of Citigroup and Citibank. He joined Citi in 1957 after graduating from Brown University.


"Bill Rhodes has been the consummate insider in international issues for more than three decades. He influenced U.S. and foreign policies on trade, exchange rates, and foreign debt resolution. Leaders around the world have benefited from Bill Rhodes's advice. This book gives readers an honest review of the events and of the political leaders who made the key decisions."
--Professor Martin Feldstein, Department of Economics, Harvard University



"Bill Rhodes has made it his life's work to bring common sense to the most serious international problems. On something I know firsthand, the Brady Plan, Bill's steady support and energy were invaluable to its conclusion. This comes as no surprise--that's what he always does."
--Nicholas Brady, Former U.S. Secretary of the Treasury


"Banker to the World, a book exceptionally well titled, is an illuminating lesson in leadership, diplomacy, vision, and tenacity. It will be required reading at all levels of finance."
--Henry Kissinger, former U.S. Secretary of State


"Only one person could have written this book. At Citibank for 50 years, Bill Rhodes was a key decision-maker in the negotiations that took place in indebted countries in the wake of Mexico's default in 1982. He also was one of the few bankers who saw the recent 'Great Recession' coming. His memoir is a must for anyone who wants to recapture the behind-the-scenes details of this important recent era of banking history."
--Robert Mundell , Nobel Laureate and Professor, Columbia University


"A must-read. Bill Rhodes has seen it all, and his experiences and lessons learned are invaluable for all those involved in international relations and finance. Some of the lessons are applicable to problems being faced in the Euro zone and other advanced economies today. He was one of the few who predicted what we now call the Great Recession and was called a Cassandra by many at the time. But, like Cassandra, he was right."
--Nouriel Roubini, Cofounder and Chairman, Roubini Global Economics


About the Book:


In more than five decades with Citi, William "Bill" Rhodes, the firm's former senior vice chairman and senior international officer, has worked with senior business leaders, statesmen, and strongmen and brokered immense financial deals while looking across the table at finance ministers . . . and up the barrels of guns trained on him. He has earned the cooperation of Fidel Castro over cigars and the admiration of Rupert Murdoch, who said of Rhodes, "By dogged hard work, Bill forms important and great relationships. Everyone knows Bill. Everyone trusts Bill."


From these and other experiences, Rhodes has learned a lifetime of lessons about managing amid crises--and, more important, how to lead prudently, decisively, and effectively to prevent crises from ever happening in the first place. In Banker to the World, Rhodes presents his collected wisdom, best-practices, analysis, and anecdotes in one essential volume on the creation of value through leadership--and on the importance of leading by one's values.


Dramatically illustrated by more than two dozen examples, Rhodes's principles offer an excellent foundation for leaders at all levels. Having honed his skills in high-level negotiations around the world--including those with the Sandinistas, heads of state, and corporate CEOs in situations ranging from the opening of post-apartheid South Africa and the defusing of the Latin American "debt bomb" to the forestalling of the nationalization of Citi assets in Venezuela'Rhodes dispenses invaluable advice, including:
  • Lead boldly and decisively: Know when to disregard caution for caution's sake--and always insist on a neutral negotiating atmosphere.
  • Anticipate problems by visualizing their impact: Get ahead of risk by taking a comprehensive view of potential obstacles.
  • Confront problems directly and proactively: When faced with a critical situation, going directly to its epicenter is what turns a crisis into an opportunity.


You may not be presented with challenges such as restructuring a nation's multibillion-dollar debt or dealing with Zimbabwean president Robert Mugabe. But in Banker to the World, Bill Rhodes gives takeaway lessons on leading with character, tact, and determination that any manager, executive, or government official will use again and again to evaluate challenges, anticipate responses, and be more decisive in navigating crises of any size.

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