TEXT FOUR

Citigroup’s board was locked in debate over its new leader yesterday, with no clear consensus over who would be tapped. Vikram S. Pandit, the former Morgan Stanley investment banker who joined Citigroup in July, remains the leading candidate, according to people briefed on the situation. But the search committee is still discussing other possibilities, depending on whether or not Robert E. Rubin would agree to stay on as chairman. No final decisions have been made, and not all of the directors have been persuaded that Mr. Pandit is the right choice.

The formal search for Citigroup’s next chief executive began more than a month ago, after Charles O. Prince III resigned. But as its complexities mount, the search is beginning to resemble a game of multilevel chess. Citigroup’s board is weighing the pros and cons of various leadership options, including the question of whether Mr. Pandit, 50, has enough operating experience to be its next chief. No one doubts his intellect, but some are concerned that he may not bring enough charisma or consumer banking knowledge to the job.

Mr. Rubin has lobbied hard for Mr. Pandit, but other board members are less convinced. If Citigroup’s board chooses Mr. Pandit, the directors recognize that he will need a strong chairman to help him make the leap to his new job. That would mean persuading Mr. Rubin, who took on the chairman role only reluctantly last month, to stay on longer -- or recruiting another seasoned leader for that job.

Robert B. Willumstad, Citigroup’s former operations chief, might be one contender for the chairman role. He understands the internal workings of the financial empire and brings some consumer banking experience. Yet it was unclear whether he would accept being chairman without being named chief executive as well. Mr. Willumstad, 62, is currently the chairman of the American International Group and the head of Brysam Global Partners, a private equity firm backed by JPMorgan Chase. Leaving A.I.G. would be no real hardship. Extricating himself from Brysam would require some negotiation, although Mr. Willumstad’s contract with JPMorgan does allow for his departure. But associates say that Mr. Willumstad, who left Citigroup in July 2005 after being passed over in favor of Mr. Prince, seems to be enjoying the cushy confines of private equity. Negotiating his return to Citigroup might require handing him the top job.

If Mr. Pandit does not get the job, there is growing concern that he will leave the company to save face. News reports have all but anointed him as Citigroup’s next leader. Deciding on someone else would leave Citigroup’s board in a double bind. Not only did they pay an estimated $800 million for an underperforming hedge fund to bring Mr. Pandit to Citigroup, but if he leaves they might also lose the best person to run its investment bank.

Citigroup’s board could also choose an outside candidate, who could bring a fresh perspective to the beleaguered bank. Several names have surfaced, including Michael A. Neal, the vice chairman of General Electric Capital’s big commercial arm. Experts suggest that any outsider would need six months to a year to get up to speed on Citigroup’s sprawling operations and contentious politics. Between the current market turbulence and the growing frustration of investors, some doubt that the company can afford to give an outside candidate that much time.

1. Which one of the following statements is TRUE of the candidates of Citigroup’s new leader?

[A] Vikram S. Pandit is the candidate who has won the trust of the majority of the search committee.

[B] Robert B. Willumstad will be the most competitive rival of Vikram S. Pandit.

[C] Michael A. Neal is also considered a powerful rival of Vikram S. Pandit.

[D] Robert B. Willumstad will only return to Citigroup when he is given the highest position.

2. The search for Citigroup’s next chief executive is compared to a game of multilevel chess because_____

[A] the search becomes very complex in the end.

[B] the search involves in different levels of the board.

[C] Citigroup’s board weighs the pros and cons of various leadership options.

[D] the search is conducted in several rounds of selection.

3. Robert B. Willumstad left Citigroup in July 2005 probably because_____

[A] he enjoyed the free environment of Brysam Global Partners.

[B] he resented the unequal competition with Mr. Prince by the Citigroup board.

[C] his lacked adequate strength in standing out of Citigroup’s contentious politics.

[D] he was defeated in the competition for the Citigroup leader.

4. The possible results of Mr. Pandit’s resignation if he loses this election are the following ones except_____

[A] Citigroup will have to pay a big sum to get Mr. Pandit back to Citigroup.

[B] Citigroup will suffer double losses.

[C] Citigroup will lose its potential best investment banker.

[D] Citigroup will play loose with its money.

5. According to the last paragraph, an outsider will not probably be an ideal candidate because_____

[A] an outsider is not familiar with the internal workings of Citigroup.

[B] an outsider could not be adapted to the complex environment of the Citigroup’s board.

[C] Citigroup has a deadline of making the final decision of the search.

[D] The present economic situation will not allow Citigroup to give much time to an outsider to familiarize the company.

篇章剖析：

这篇文章讲述了花旗银行董事会新领导人选拔所存在的问题。第一段讲述花旗银行董事会目前就选拔问题陷入僵局;第二、三段讲述大家对Pandit先生的看法;第四段讲述Robert B. Willumstad的情况;第五段讲述目前公司面临的尴尬境遇;第六段讲述如果选择局外人也存在一定问题。

词汇注释：

charisma n. 感召力 cushy adj. 轻松的，舒适的

anoint v. 选定，指定 beleaguer v. 围攻

sprawl v. 蔓延 contentious adj. 好辨的

难句突破：

(1)Vikram S. Pandit, the former Morgan Stanley investment banker who joined Citigroup in July, remains the leading candidate, according to people briefed on the situation.

[主体句式] Vikram S. Pandit remains the leading candidate.

[结构分析] 这是一个复合句，who引导的定语从句用来修饰banker, 而the former…是做主语的同位语;according to是句子的状语。

[句子译文] Vikram S. Pandit，这位前摩根斯坦利投资银行家于7月份加入花旗银行，据与会人员表示，他仍然是头号候选人。

(2)Citigroup’s board is weighing the pros and cons of various leadership options, including the question of whether Mr. Pandit, 50, has enough operating experience to be its next chief.

[主体句式] Citigroup’s board is weighing the pros and cons…

[结构分析] 这是一个复合句，including…是现在分词结构作opinions的定语;whether…是of的宾语从句。

[句子译文] 花旗银行董事会衡量了各个领导层的反对和支持意见，包括现年50岁的Pandit先生是否有足够的经验可以担任下一届的领导人。

1. Which one of the following statements is TRUE of the candidates of Citigroup’s new leader? 1.关于花旗银行新领导候选人，下列哪个陈述是正确的?

[A] Vikram S. Pandit is the candidate who has won the trust of the majority of the search committee. [A] Vikram S. Pandit获得了大部分遴选委员会成员的信任。

[B] Robert B. Willumstad will be the most competitive rival of Vikram S. Pandit. [B] Robert B. Willumstad是Vikram S. Pandit最有竞争力的对手。

[C] Michael A. Neal is also considered a powerful rival of Vikram S. Pandit. [C] Michael A. Neal也是Vikram S. Pandit的一个有力的竞争对手。

[D] Robert B. Willumstad will only return to Citigroup when he is given the highest position. [D] Robert B. Willumstad 只有在得到最高职位的时候才会回到Citigroup。

[答案] B

[难度系数] ☆☆

[分析] 细节题。A选项，第一段提到了 他们还在讨论别的可能，可以看出该委员会成员并不是大部分人都愿意选他的。B选项，第四段提到了Robert B. Willumstad“Robert B. Willumstad, Citigroup’s former operations chief, might be one contender for the chairman role”，从后文可以看出他是Vikram S. Pandit强有力的对手。C选项，最后一段提到的内容可以看出选一个公司外部的人并不大可能，因此该陈述错误。D选项，第四段提到了这一点“Negotiating his return to Citigroup might require handing him the top job”，但是文章中用了“might”这个词，而选项的表述则过于肯定，因此该选项不正确。因此，正确答案为B选项。

2. The search for Citigroup’s next chief executive is compared to a game of multilevel chess because_____ 2.把选拔花旗银行下任首席执行官比喻成多级别的国际象棋比赛，这是因为_____

[A] the search becomes very complex in the end. [A] 选拨到最后变得非常复杂。

[B] the search involves in different levels of the board. [B] 选拔涉及到董事会的各个阶层。

[C] Citigroup’s board weighs the pros and cons of various leadership options. [C] 花旗银行的董事会衡量了各个领导层的反对和支持意见。

[D] the search is conducted in several rounds of selection. [D] 该选拔要进行好多轮次。

[答案]A

[难度系数] ☆☆☆

[分析] 推理题。根据第二段“But as its complexities mount, the search is beginning to resemble a game of multilevel chess”，由于事情变得越来越复杂，选拔也成为多级别的国际象棋比赛了，可以看出，这样的比喻也只是突出事情的复杂性而已。因此，答案为A选项。

3. Robert B. Willumstad left Citigroup in July 2005 probably because_____ 3. Robert B. Willumstad于2005年七月离开了花旗银行可能是因为_____

[A] he enjoyed the free environment of Brysam Global Partners. [A] 他喜欢Brysam Global Partners轻松的氛围。

[B] he resented the unequal competition with Mr. Prince by the Citigroup board. [B] 他怨恨花旗银行董事会没有公平地对待他和Prince先生。

[C] his lacked adequate strength in standing out of Citigroup’s contentious politics. [C] 他没有足够的能力在花旗银行复杂的政治斗争中脱颖而出。

[D] he was defeated in the competition for the Citigroup leader. [D] 在竞争花旗银行领导人的竞争中他被击败了。

[答案] D

[难度系数] ☆☆☆☆

[分析] 推理题。根据第四段“But associates say that Mr. Willumstad, who left Citigroup in July 2005 after being passed over in favor of Mr. Prince, seems to be enjoying the cushy confines of private equity”，Willumstad先生是在Citigroup选取了Prince先生而没有考虑他的情况下于2005年7月份离开的，而结合到Prince是前任领导，可以推断出Willumstad先生是因为竞争失败才离开了公司的。因此，D选项为正确答案。

4. The possible results of Mr. Pandit’s resignation if he loses this election are the following ones except_____ 4. 如果Pandit先生没有当选，那么他肯能会辞职，辞职可能带来的后果是以下除了____外的选项。

[A] Citigroup will have to pay a big sum to get Mr. Pandit back to Citigroup. [A] 花旗银行可能得向Pandit先生支付一大笔钱才能让他重新回来

[B] Citigroup will suffer double loss. [B] 花旗银行会承受双重损失

[C] Citigroup will lose its potential best investment banker. [C] 花旗银行会失去可能的最好投资银行家

[D] Citigroup will play loose with its money. [D] 花旗银行的钱打了水漂

[答案] A

[难度系数] ☆☆☆

[分析] 推理题。根据第五段，Pandit先生如果辞职就会让董事会陷入两重打击，一方面他们已经向一家运营不佳的保值基金支付了大约8亿美金将Pandit先生挖过来，一方面他们将失去运营投资银行的最佳人选。因此，B、C、D都是可能的后果，而A选项不是，因此是正确答案。

5. According to the last paragraph, an outsider will not probably be an ideal candidate because_____ 5. 根据最后一段，公司外的人员不可能是理想人选因为_____

[A] an outsider is not familiar with the internal workings of Citigroup. [A] 公司外的人员对花旗银行的内部运营不熟悉。

[B] an outsider could not be adapted to the complex environment of the Citigroup’s board. [B] 公司外的人员不能适应花旗银行董事会复杂的氛围。

[C] Citigroup has a deadline of making the final decision of the search. [C] 花旗银行选定领导人人选有限定日期。

[D] The present economic situation will not allow Citigroup to give much time to an outsider to make himself qualified. [D] 目前的经济形势不允许花旗银行给公司外的人员足够的时间来做到合格。

[答案]D

[难度系数] ☆☆☆

[分析] 推理题。最后一段提到了“Experts suggest that any outsider would need six months to a year to get up to speed on Citigroup’s sprawling operations and contentious politics. Between the current market turbulence and the growing frustration of investors, some doubt that the company can afford to give an outside candidate that much time”，即任何一个外来人员都需要六个月到一年来熟悉状况，但是目前经济形势不好，投资者很焦急，不可能给外来的人员那么多适应的时间。因此，答案为D选项。

参考译文：

花旗银行董事会昨天因讨论其新任领导人问题而陷入僵局，对于人选没有统一的意见。Vikram S. Pandit，这位前摩根斯坦利投资银行家于7月份加入花旗银行，据与会人员表示，他仍然是头号候选人。但是遴选委员会还在讨论其它人选，这主要取决于Robert E. Rubin是否同意继续担任一段时间的主席。现在尚无最后决定，而且并不是所有的董事都认为Pandit先生是最佳人选。

选拔花旗银行的新任领导人是从一个月前Charles O. Prince III辞职后开始的。但是由于事情变得越来越复杂，选拔也成为多级别的国际象棋比赛了。花旗银行董事会衡量了各个领导层的反对和支持意见，包括现年50岁的Pandit先生是否有足够的经验可以担任下一届的领导人。对于他的睿智没有人怀疑，但是有人担心他的个人号召力不够或没有足够的消费者银行知识，因此不能胜任这份工作。

Rubin先生努力为Pandit先生四处游说，但是其他董事会成员却不太相信。如果花旗银行的董事会选择了Pandit先生，那么董事认为他需要有一位强有力的主席来帮助他顺利接受新的工作。那也就意味着要说服Rubin先生呆更长一段时间，而他上个月勉强接受了主席一职，或者就得聘请另外一位有经验的领导人来担任这项工作。

Robert B. Willumstad是花旗银行前任业务部主管，也可能是主席职位的候选人。他了解这个金融帝国的内部运作，而且也可以带来一些客户银行经验。但是还不能确定他是否在不被任命为首席执行官的情况下愿意接受主席一职。Willumstad先生今年62岁，现任美国国际集团主席和JPMorgan Chase资助的私募基金公司Brysam 全球合作伙伴公司的经理。离开美国国际集团可能不会很难，但是让他从Brysam脱身则需要一些斡旋，尽管Willumstad先生与JPMorgan签订的合同允许他离开。但是会员们称Willumstad先生是在花旗银行选取了Prince先生而没有考虑他的情况下于2005年7月份离开的，他好像很喜欢私募基金轻松的环境。要让他回到花旗银行，可能就得把最高职务交给他。

如果Pandit先生不能当选，那么他非常有可能要离开公司以挽回自己的面子。新闻报道称已经指定他为花旗银行下任领导人了。选择其他人会让花旗银行董事会处于双重约束中。他们不仅向一家运营不佳的保值基金支付了大约8亿美金将Pandit先生挖过来，而且如果Pandit先生要离开公司，那么公司将失去运营投资银行的最佳人选。

花旗银行董事会也可以选取一个外部候选人，从而会给这家遭受围攻的银行带来新气象。这些人选如通用电气资金的商业分部部长Michael A. Neal。专家认为任何一个外来人员都可能需要六个月到一年的时间来与花旗银行的扩张运营以及复杂的政治氛围和上拍。但现在一边是市场动荡，一边是投资者不断的失败，一些人怀疑公司是否能给一个外来的候选人那么多的适应时间