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"CEOs set to go under microscope at House hearing on ‘holding megabanks accountable’" by Victor Reklaitis
Ian Katz was quoted in Victor Reklaitis's MarketWatch article, "CEOs set to go under microscope at House hearing on ‘holding megabanks accountable,’" published on April 10.
The article reads:
“There’s a small risk of an unexpected slip-up at the hearing. Of the seven executives, several have little experience facing a hostile group of lawmakers,” said Capital Alpha Partners analyst Ian Katz in a note. The CEOs will have been coached ahead of time by their staffs, and they’ve known for months that the hearing was coming, but that “doesn’t mean one of them can’t misspeak, or inadvertently transmit a tone that angers the lawmakers,” Katz added.
Committee members also appear set to ask about the bank bosses’ pay, as the memo highlights CEO-to-worker pay ratios. “This topic is never easy for big-bank CEOs, because any defense of their pay implies that they think they’re worth it,” said Capital Alpha’s Katz, who added that it’s “never a good look to suggest that you deserve $20 [million] a year.”
“If Waters and skilled questioners like Rep. Katie Porter (D-Calif.) feel like they have Sloan’s head in a trophy case, they won’t pull any punches against the CEOs,” Capital Alpha’s Katz said.