▁of ▁G lass – Ste ag all ▁played ▁a ▁role ▁in ▁the ▁recent ▁financial ▁crisis . ▁ ▁In ▁ 1 9 9 8 , ▁We ill ▁was ▁the ▁recip ient ▁of ▁Fin an cial World ▁Mag az ines ▁CE O ▁of ▁the ▁Year ▁Award ▁and ▁received ▁the ▁same ▁honor ▁from ▁Chief Exec utive ▁Magazine ▁in ▁ 2 0 0 2 . ▁ ▁In ▁ 2 0 0 1 , ▁We ill ▁became ▁a ▁Class ▁A ▁director ▁of ▁the ▁Federal ▁Reserve ▁Bank ▁of ▁New ▁York . ▁Class ▁A ▁direct ors ▁are ▁those ▁elected ▁by ▁Federal ▁Reserve ▁member ▁banks . ▁Also ▁in ▁ 2 0 0 1 , ▁We ill ▁established ▁several ▁off sh ore ▁enter pr ises , ▁including ▁one ▁through ▁which ▁he ▁owned ▁his ▁y acht . ▁ ▁These ▁entities ▁were ▁identified ▁in ▁the ▁Pan ama ▁Pap ers . ▁ ▁In ▁ 2 0 0 2 , ▁the ▁company ▁was ▁hit ▁by ▁the ▁wave ▁of ▁Wall ▁Street ▁manager ial ▁rest ruct uring ▁that ▁followed ▁the ▁stock ▁market ▁dow nt urn ▁of ▁ 2 0 0 2 . ▁In ▁ 2 0 0 3 , ▁We ill ▁sold ▁ 5 . 6 ▁million ▁shares ▁of ▁Cit igr oup ▁back ▁to ▁the ▁financial ▁institution ▁for ▁nearly ▁$ 2 6 4 ▁million ▁and ▁rel in qu ished ▁the ▁title ▁of ▁CE O ▁to ▁Charles ▁O . ▁Prince . ▁He ▁remained ▁Chair man ▁of ▁Cit igr oup ▁until ▁ 2 0 0 6 . ▁ ▁Adv oc ate ▁for ▁bank ▁break - up ▁On ▁July ▁ 2