trending Market Intelligence /marketintelligence/en/news-insights/trending/hfqSblJXZj1fqLY0_LZ6qg2 content esgSubNav
In This List

Citigroup gets 64% approval in say-on-pay vote

Blog

Banking Essentials Newsletter: July Edition - Part 2

Blog

Anticipate the Unknown Go Beyond Fundamentals to Uncover Early Signs of Private Company Credit Deterioration

Blog

Taking Loss Given Default Estimation to the Next Level: An Aspiration for All Creditors, Not Just Banks

Blog

Anticipate the Unknown A Fundamentals Approach to Detect Early Signs of Private Company Credit Deterioration


Citigroup gets 64% approval in say-on-pay vote

shareholders voted63.6% of their shares in favor of the 2015 compensation awards during thecompany's annual meeting in Miami.

Proxyadvisory firms Institutional Shareholder Services and Glass Lewis & Co. hadrecommended againstit.

Defendingthe CEO's paycheck, Chairman Michael O'Neill told investors Michael Corbat"stacks up next to last in the large bank peers, despite the factthat … operating performance actually was better than most of [Citi's] peers."

Shareholders also rejected a that the board explore optionsto split the New York-based company into two or more companies. Therecommendation garnered only 3.5% of the votes. O'Neill noted that the boardhas conducted three studies of the matter, and that, "in every case, theconclusion was that the approach [Citi takes] to running the business will,over time, produce the best results."