Sticking with recent tradition, Robert Wilmers, chairman and chief executive of M&T Bank (MTB), used his annual letter to shareholders to skewer the "too big to fail" banks that he believes are to blame for the financial crisis.

In a twist, his newest letter threw a dash of populism into the mix.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.