Citi Gets a Tough Wall Street Report Card in Fraser Era

The transcript discusses Citigroup's performance under CEO Jane Frazier since March 2021. Despite a 21% increase in shares, Citigroup lags behind its peers. Frazier has implemented a turnaround plan, focusing on investments and data controls. However, the bank still trails major competitors. Frazier aims for a return on tangible common equity of 11-12% by 2026, but current figures are below expectations. Analysts like Mike Mayo are cautiously optimistic, but emphasize the need for consistent gains. The upcoming board meeting will address these challenges and the bank's future strategy.

Discuss the implications of Mike Mayo's comments on Jane Frazier's tenure as CEO.

What challenges does Citigroup face in meeting its financial goals, according to analysts?