Charles Prince

Charles Owen "Chuck" Prince III (born January 13, 1950) is an American former chairman and chief executive of Citigroup. He succeeded Sandy Weill as the chief executive of the firm in 2003, and as the Chairman of the Board in 2006. On November 4, 2007 he retired from both his chairman and chief executive duties due to unexpectedly poor 3rd quarter performance, mainly due to CDO and MBS related losses, while still receiving a $38m pay package.

Charles Owen Prince III was born in Lynwood, California on 13 January 1950 to Charles Owen Prince II and Mary Doyle. Prince went to the University of Southern California for his Bachelor's degree, Master's degree, and Juris Doctor. He continued his education, going on to receive a Master of Laws degree from Georgetown University Law Center.

The son of a plasterer and a housewife, Prince started his career as an attorney with U.S. Steel Corp in 1975. In 1979, he joined Commercial Credit Company, a predecessor to Citigroup that Sandy Weill took over in 1986. He was promoted in 1996 to Executive Vice President of the firm, which at this point, was known as the Travelers Group. In 2000, shortly following the 1998 merger of Travelers and Citigroup, Prince was named chief administrative officer of the newly created firm, Citigroup. He was subsequently promoted to chief operating officer in 2001, to chairman and chief executive of Citi Markets and Banking in 2002, and finally to chairman and chief executive.

Prince is currently married to Margaret L. Wolff. The couple was wed on September 20, 2003 at The Pierre Hotel in New York City. Semi-retired Judge Robert W. Sweet presided over the ceremonies.

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