Citi Shareholders Nix Executive Pay

Citigroup shareholders gave a vote of no confidence to the bank's executive compensation plan on Tuesday, dealing a surprise embarrassment to CEO Vikram Pandit, Reuters reports.

Only 45 percent of shareholders endorsed the pay plan in an advisory vote required under the Dodd-Frank law, Michael Helfer, general counsel and corporate secretary, said at Citi's annual meeting, citing preliminary vote totals…..

http://www.cnbc.com/id/47078447