Citi's directors and pay practices attract criticism

Three proxy advisory firms in the US argue that some of Citi's board members did not perform their duties and that compensation practices at the US bank need to be reviewed.

Ahead of Citi's annual shareholder meeting on April 21, three proxy advisory firms have advised shareholders to express their dissatisfaction with the performance of the bank's board and highlight compensation-related issues.
San Francisco-headquartered Glass Lewis gives Citi an F grade on its pay-for-performance model, observing that the US bank paid more compensation to its top officers than the median compensation at six large financial companies. Overall Citi paid more than its peers but performed worse than its peers, notes...

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