Citigroup and the Roman Empire
From the Portfolio article, “Citi under siege”:
“Has the company grown too big to make any sense? What’s the logic holding it together? What is the future of banking? Should Citi even survive intact?”
“The glass-half-empty view — the prevailing one on Wall Street — is that Citi is unmanageable in its current form.”
“Citigroup is a multinational colossus, with 200 million customers in more than 100 countries. Its fingers are in every financial-service pie – banks, credit cards, brokerages, investment banking, and hedge funds.”
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Sadly the article didn’t outline Citigroup’s governance or decision-making processes (well, sure.. a lot of it it’s private), so it’s hard to know whether it has grown too big to make any sense. But it is surely an interesting question. Can any company survive if too big?
This reminds me of the history of the Roman Empire and the challenges that came with its growing size. I need to brush up on my history, but from what I remember, the Empire grew too big, ruled by the weak and corrupt, fought for by mercenary armies and afflicted by serious economic problems. It would be interesting to compare the two entities and notice any similarities.
ps yes, I know the times are different… which makes all the difference. But maybe historical events can serve as an initial diagnostic tool.
