Wells Fargo's Mayo: Fire Citigroup's Board

The transcript discusses Citigroup's financial metrics, comparing them to other banks like JP Morgan and Credit Suisse. It highlights issues with Citigroup's virtual annual shareholder meeting and criticizes the current board, calling for new perspectives and shareholder advocacy. The new CEO, Jane Fraser, is seen as a potential change agent, with plans to sell consumer operations in Asia and Mexico. The need for restructuring beyond management is emphasized, along with the call for fresh blood on the board to improve oversight and performance.

How has Citigroup's performance been characterized over the years?

What restructuring plans are mentioned for Citigroup under the new CEO?