- John S. Reed
John Shepard Reed (born
1939) is the former Chairman of the New York Stock Exchange. He previously served as Chairman and CEO of Citicorp, Citibank, and post-merger, Citigroup.
He was born in
Chicago, Illinois, and raised in Argentinaand Brazil. Reed earned his undergraduate degrees in a 3-2 program from Washington and Jefferson Collegeand MIT, earning an B.S.from the MIT Sloan School of Managementin 1961. He was also a member of Lambda Chi AlphaFraternity while at MIT. He served two years in the U.S. Armybefore returning to get his master's degreein managementfrom the MIT Sloan School of Managementin 1965. [http://alum.mit.edu]
Reed was heavily responsible for pushing for the adoption of the ATM around the USA, and led Citicorp through a perilous period in the early 1990s. He was approached by
Sandy Weillto merge with Travelers Groupafter the Gramm-Leach-Bliley Actof 1999 (repealling the Glass-Steagall Actof 1932), allowing banking and insurance companies to merge. The result was Citigroup, where Reed was later ousted in a management shakeup with Weill. Reed's departure was announced in a February 28, 2000 press release.
Reed was asked to be interim CEO of the
New York Stock Exchangeafter the Richard Grassoover-compensation scandal. He accepted the job for a $1 salary and set up new governance rules as the NYSE became a public corporation.
Reed is on the board of directors at
*Augier, Mie. "Making Management Matter: An Interview With John Reed". Academy of Management Learning & Education, 2006, Vol. 5, No. 1, 84-100.Reed's resignation: http://www.citigroup.com/citigroup/press/2000/000228a.htm
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