Mayo believes shareholders will increasingly push for restructuring at the big banks and that companies should consider doing so or else regulators will do it for them.
He says he has his hand on the trigger to break up Citigroup but is not ready to pull it yet given its recent progress. The analyst believes Bank of America (BAC) should be broken up. While JPMorgan Chase (JPM) has pointed to the benefits of its diversified model, he believes its asset management business, whose value is not reflected in the bank's stock price, might need to be spun off.
Wells Fargo (WFC), however, has "earned the right to stay at its size," he said.
-- Written by Shanthi Bharatwaj in New York.>Contact by Email. Follow @shavenk
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