Pubdate: Tue, 28 Nov 2000
Source: Spokesman-Review (WA)
Copyright: 2000 Cowles Publishing Company
Contact:  P.O. Box 2160 Spokane, WA 99210
Fax:  (509) 459-5482
Website: http://www.spokesmanreview.com/
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REPORT: SON OF CITIGROUP BOSS LEFT OVER DRUG PROBLEM

NEW YORK -- The son of Citigroup Inc. chairman Sanford Weill left his 
position overseeing the company's $113 billion investment portfolio after 
erratic behavior at business functions and amid a battle with cocaine 
addiction, The Wall Street Journal reported Wednesday.

Marc Weill earned more than $2 million annually managing the vast holdings 
in stocks, bonds and other investments at the nation's largest bank holding 
company. He also was on the 19-member management committee, which sets 
policy for the banking, insurance and brokerage powerhouse.

In July, Sanford Weill told the company's board that his son was leaving 
the firm, but did not explain why, said a meeting attendee.

Weill, 44, left the firm amid a battle with cocaine dependency, the Journal 
said, quoting a source familiar with the matter. The newspaper cited a 
number of reports where Weill acted erratically at business functions and 
dozed through meetings.

Marc Weill's ex-wife, E.D. Donahey, told the paper that "Marc is in 
treatment for drug addiction."

Donahey said she was talking to the paper to try to help Weill recover. 
"The only thing that's important is that Marc is getting help for his drug 
addiction."

Marc Weill's problems did not appear to affect the success of Citigroup's 
investment portfolio. In the first three months of 2000 -- his last full 
quarter at the firm -- the investment unit was one of Citigroup's most 
profitable divisions. Income from venture capital and Citigroup's own 
investment portfolios jumped to $634 million from just $90 million in the 
year-ago period; the amount totaled 17.5 percent of Citigroup's profit for 
the quarter.

A Citigroup spokesman could not immediately be reached for comment on the story.
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MAP posted-by: Keith Brilhart