Citing the ouster of CEO Vikram Pandit Tuesday, Mayo wrote that the change "seems to reflect a more proactive board and can improve poor governance."
Mayo added that the bank should be approved to raise its dividend soon after having been rejected by regulators in a recent attempt. The change "can only help mend the credibility gap, at least with regulators," Mayo wrote.
Mayo looks forward to a three year restructuring plan, "akin to actions taken by
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