Matt Patsky Appears on CNBC, Bloomberg TV, and Fox Business to Discuss Citigroup Proposal
Trillium Asset Management LLC, on behalf of the Benedictine Sisters of Mount St. Scholastica, along with the AFSCME Employees Pension Plan recently filed a shareholder proposal with Citigroup Inc. (NYSE: C) asking the company’s board of directors to explore a possible separation of one or more of its business units.
Citigroup’s shares have consistently traded below book value since late 2008, it failed the Federal Reserve’s CCAR stress tests in March 2012, and regulators continue to forbid it from returning significant capital to stockholders due to concerns over its financial stability.
“Despite some positive steps taken since the start of the financial crisis, we believe Citigroup’s progress toward simplifying and de-risking its business has been slow and incomplete. Citigroup boasts many attractive attributes, but remains burdened by excessive complexity, as well as the stigma and risks associated with being named a ‘too big to fail’ institution.”, said Matthew Patsky, CEO of Trillium Asset Management. “These factors could threaten stockholder return through breakdowns in risk management, increased regulatory scrutiny, higher litigation expense, greater capital requirements and poor public perception, among other challenges”.
On Thursday, November 15, 2012 Matt appeared on CNBC, Bloomberg TV, and Fox Business to discuss the Citigroup proposal. Links to Matt’s appearances are below:
