Financial Services Industry
Industry: Email Alert RSS FeedWall Street giants face shareholder pressure at AGMs.
Financial News, April, 2004
Byline: Jeremy Adams
Senior executives at Citigroup and Morgan Stanley are set to come under fire from shareholder activists over corporate governance at the US investment banks' annual general meetings.The California Public Employees' Retirement System and Evelyn Davis, the veteran individual shareholder activist, will lead votes against the boards of Citigroup and Morgan Stanley at their annual shareholder meetings in New York on Tuesday.
Rebel voting against Wall Street executives has been gaining momentum this year due to a tougher corporate governance stance from Calpers as well as a surprise victory last month for Davis over Goldman Sachs in her campaign to make boards more democratic.
Davis won the backing of the majority of Goldman...
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