This was the result of both internal disorder within the board of directors and the impact of the external environment, which nearly led to Citibank's collapse!
It was at this time that the Astor Family stepped in, appointing Moses Taylor, a representative of the Astor Family, as a director of Citibank!
After taking over Citibank, Moses Taylor initiated sweeping reforms, introducing more professional directors and elevating Citibank to new heights.
Of course, in this process, Moses Taylor also continually accumulated his own wealth.
In the end, Moses Taylor had shed the vestiges of the Astor Family and officially adopted the title of the Taylor Family.
After Moses Taylor's death, he passed Citibank on to his son-in-law, Payne. After two generations of management, Citibank had become a super bank in the United States.
By the end of the last century, Citibank welcomed its most successful president in history, James Stillman!
