Citigroup, which aspires 'to become the world's digital bank', will not webcast its annual meeting next week in St. Louis.
Analyst Mike Mayo told Reuters on Wednesday that Citigroup's practice is 'ludicrous'. He said the bank needs to explain what it has learned since March, when the Federal Reserve rejected Citigroup's plan to boost dividends and buy back more shares, and investors should not have to fly to St. Louis to hear it.
On Citigroup's conference call with investors on Monday, Mayo asked CEO Mike Corbat if the annual meeting would be webcast. Corbat said it would not be and provided no further comment.
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