Bank of America awarded CEO Brian T. Moynihan $20 million for his work last year, raising his compensation 25%, while Citigroup cut CEO Mike Corbat’s by 6.1% to $15.5 million.
CLSA bank analyst Mike Mayo says he plans to ask Citigroup's chairman and board of directors for answers at Friday's annual meeting.
In a marked difference to prior annual meetings, Citigroup shareholders praised management and the board on Wednesday for revitalizing the bank's strategy.
Mike Mayo, analyst at CLSA, known on Wall Street for his brash style and pointed questions to CEOs, has had a contentious relationship with Citigroup over the last few year. Now that may all be changing.