A leading proxy advisory group has recommended that shareholders vote against re-electing half the board of Citigroup, including the bank’s chairman, Richard Parsons, because of the directors’ failure to maintain risk controls and hold the line on executive pay.

Glass Lewis advised shareholders to withhold votes from seven of Citigroup’s 14-member board: Michael Armstrong, the former chief executive of AT&T; Alain Belda, the chairman of Alcoa; John Deutch, the former director of the Central Intelligence Agency; Andrew Liveris, the chief executive of Dow Chemical; Anne Mulcahy, the chief executive of Xerox, and Judith Rodin, the president of the Rockefeller Foundation.