Are Bank Boards Considered Lazy Boys?

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April 9 (Bloomberg) -- CLSA Bank Analyst Mike Mayo examines the issues with bank and corporate boards. He speaks with Trish Regan on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)

Corporate boards that go along with management, said by, say anything goes, just to keep the peace?

Rubberstamp bank boards, i have seen it for 25 years.

Management teams come and go but these boards don't take enough responsibility for overseeing this management team.

I brought up some of these examples before but look at the big bank mergers.

It has been six s as been -- it has been seven years for he and y malin.

Who is responsible?

Who is accountable?

I was at the bny mellon.

When on the boards going to step up to the plate?

You specifically cover the financial sector are so you see a lot of it in the space.

Beside the boards, what else can be done?

They are saying that institutional shareholders need to have a bigger voice.

Why aren't analysts calling out more of these problems?

Parole and weinberg, thank you very much.

The asset management industry is $100 trillion.

Within that, there is a lot more that the shareholders can do.

Asset managers like blackrock have been getting more aggressive.

These guys are, like, ok, as long as i need to the s&p, there you go where the activists are saying i want to have more influence and make a bigger impression and i will do more to accomplish that.

What is the difference between the activist and the shareholder right now?

Some of the actions are beneficial to the bank.

We saw dan loeb at morgan stanley, which certainly didn't hurt.

We saw nelson involved in state street.

That helped.

But sitting back and waiting for the activists to write in with his white hat and save the day, if you are an investor in citigroup am a you can't do that anymore.

We need the top institutional investors to take more accountability themselves.

This op-ed is not praising

This text has been automatically generated. It may not be 100% accurate.

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