Suddenly, it seems, so-called “double bonuses” for C-suite executives on Wall Street are all the rage, and Mike Mayo, the outspoken Wall Street research analyst at Wells Fargo Securities, has had enough. Indeed, with proxy and annual meeting season fast approaching, Mayo is calling out the boards of Goldman Sachs, as well as a trio of large commercial banks—KeyCorp, Truist Financial, and U.S. Bancorp—for gifting their top executives generous retention-style bonuses that basically don’t require them to hit any meaningful performance metrics along the way. He hopes investors will share his concerns, and make a stink about the bonuses, too.
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