Coronavirus Tips Working and Protection, For its 2021 fiscal year, CITIGROUP INC, listed the following executives on its annual proxy statement to the SEC. JPMorgans Jamie Dimon and Bank of Americas Brian Moynihan were a whisker behind, at $34.5 million and $32 million, respectively. Amazon Pauses Construction on Second Headquarters in Virginia as It Cuts Jobs, Amazon Is Closing Its Cashierless Stores in NYC, San Francisco and Seattle, iPhone Maker Plans $700 Million India Plant in Shift From China, Stock Traders Are Ignoring Blaring Bond Alarms, S&P 500 Notches Best Week Since Late January: Markets Wrap. Latest Update on the Future of Work at Citi. See here for a complete list of exchanges and delays. Opinions expressed are those of the author. Feb. 28. The charts on this page feature a breakdown of the total annual pay for the top executives at CITIGROUP INC as reported in their proxy statements. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. If a company isnt doing well, its board and investors should want the best person to clean it up. However, women make 99% of what men do when they're given the same titles and have similar levels of experience, Citi said. Create your Watchlist to save your favorite quotes on Nasdaq.com. On her first day as CEO, she pledged that the bank would achieve net-zero greenhouse-gas emissionsin its financing activities by 2050. Citigroup Inc. awarded Chief Executive Officer Jane Fraser $22.5 million for her work in 2021 after she assumed the top job in February and helped guide the bank through regulatory hurdles. Conrad Sangma To Be Sworn In As Meghalaya Chief Minister On March 7. That's down from 29% in the first year Citi reported the figures. 54, was granted stock awards totaling about $14.82 million, a cash bonus of $6.35 million and a $1. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. I vividly remember March 6 last year. The $1.33M base salary is consistent with the annualized rate of $1.5M for the 10. This information is according to proxy statements filed for the 2021 fiscal year. For its 2021 fiscal year, CITIGROUP INC, listed the following board members on its annual proxy statement to the SEC. This copy is for your personal, non-commercial use only. But Frasers firm is less efficient, slower-growing and earns a lower return on equity. Fraser has since set about selling Citis retail banking businesses outside the United States, including its Mexican franchise, Citibanamex. Do Not Sell My Personal Information (CA Residents Only). She is the first woman to lead a U.S.-based Wall Street bank, and Citi long before Frasers ascent positioned itself as a market leader on gender equality. If those targets are tough, setting pay in line with peers is therefore less like rewarding failure, and more like incentivizing competition. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. She has been tasked with simplifying the bank's structure and getting its profitability on par with rivals. In January, Citi reported a profit of $4.6 billion on revenue of $16.5 billion. She worked as a Goldman Sachs analyst after receiving her degree in economics at Cambridge.. read more. From 2009 to 2013, Jane served as the Chief Executive Officer of Citi's Global Private Bank. Harsher penalties, a fiercer fight over ESG philosophy and a more urgent push to regulate crypto appear poised to roil the finance sector this year. "Notwithstanding challenging macroeconomic and geopolitical developments, under Ms Fraser's leadership Citi made solid progress on each of our priorities, and the compensation committee recognises the strategic direction that took shape during 2022," Citi said in its filing. CITIGROUP INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. In Fraser's first year as CEO, the bank also submitted plans to the OCC and the Federal Reserve to address how to resolve its 2020 consent orders. Track Latest News and Election Results Coverage Live on NDTV.com and get news updates from India and around the world. It was a Friday. California Weighs $360,000 in Reparations to Eligible Black Residents. - Goldman Sachs and Morgan Stanleys boards each awarded their chief executives, David Solomon and James Gorman, $35 million in cash and shares, while JPMorgan boss Jamie Dimons package for the year totals $34.5 million. (Editing by Lauren Silva Laughlin and Sharon Lam). Our Standards: The Thomson Reuters Trust Principles. (The author is a Reuters Breakingviews columnist. Before becoming CEO, she was . The bulk of her compensation$14.82 millionis in restricted stock tied to performance metrics. Ms Fraser's total pay in 2021 was $22.5 million. Of this total $1,333,333 was received as a salary, $7,912,500 was received as a bonus, $0 was received in stock options, $11,215,773 was awarded as stock and $79,718 came from other types of compensation. Fraser has since set about selling Citis retail banking businesses outside the United States, including its Mexican franchise, Citibanamex. As data privacy regulations around the | 1 p.m. In addition, she makes $17,313,800 as President and Chief Executive Officer at Citigroup Inc. Dive Brief: Citi paid CEO Jane Fraser $22.5 million for 2021, the bank revealed in a filing Monday. The estimated Net Worth of Jane Nind Fraser is at least $25 Million dollars as of 27 February 2018. If a company isnt doing well, its board and investors should want the best person to clean it up. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Morgan Stanleys James Gorman and Goldman Sachss David Solomon were paid $35 million each for their work last year. NEW YORK, Feb 15 (Reuters Breakingviews) - Jane Frasers $22.5 million package for running Citigroup (C.N) embodies a Wall Street pay gap. https://www.wsj.com/articles/citigroups-jane-fraser-gets-22-5-million-for-first-year-as-ceo-11644877691. CITIGROUP INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Prior, Jane was the Global Head of Strategy and Mergers & Acquisitions for Citi from 2007 to 2009. Jane Fraser is the Chief Executive Officer of Citi, the world's most global bank, which serves millions of consumers, businesses and institutions across 160 countries and jurisdictions. The compensation committee took into account the company's return of almost $12B in capital to its common shareholders, growth of its book value per share of 7% to $92.21, and CET1 capital ratio of 12.3%. Fraser's compensation package for 2023 includes a base salary of $1.5 million, a cash incentive of $3.45 million, and deferred incentives of $8.05 million in deferred stock and $11.5 million in performance share units. CONTEXT NEWS. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. JPMorgan Chase & Co (JPM.N) head Jamie Dimon is receiving $34.5 million for 2021. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX. These symbols will be available throughout the site during your session. Venture capitalists swap Paris Hilton for Al Gore, US blacklisting is no match for TikTok virality, Editing by Lauren Silva Laughlin and Sharon Lam, Theres hope beyond moaning for European telcos, Adani contrarian is a win for Hindenburg, too, Exclusive news, data and analytics for financial market professionals. For non-personal use or to order multiple copies, please contact The bank paid Fraser $22.5mn for her work in 2021, when she took over as CEO at the end of February, replacing Mike Corbat, reported Financial Times. Feb 14 (Reuters) - Citigroup Inc (C.N) Chief Executive Officer Jane Fraser will be paid $22.5 million for 2021, a 31.6% increase from the previous year when she was the president of the bank and . Continue reading your article witha WSJ subscription, Already a member? While Chiefs at other big banks, including Goldman and Morgan Stanley, took a pay cut, Citigroup Inc paid Chief Executive Jane Fraser $24.5 million for 2022, up 9 per cent from the prior year, reported Wall Street Journal. Citigroup (NYSE: C) CEO Jane Fraser gets total compensation of $22.5M for 2021, the company said in a filing. (Source: @Citi) By 2019, she is said to have received $17.3 million in total remuneration. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Her route to being the first woman to head a top 5 U.S. bank included stops at Goldman and McKinsey. NEW YORK (Reuters Breakingviews) - Jane Frasers $22.5 million package https://www.sec.gov/ix?doc=/Archives/edgar/data/0000831001/000110465922022820/c-20220210x8k.htm for running Citigroup embodies a Wall Street pay gap. You may retrieve the full proxy statement by going to the Securities and Exchange Commission (SEC) website at www.sec.gov and entering the company's name and then looking in the first column for an entry of "Form DEF 14A" (or any similar code). This website follows the DNPA Code of Ethics Copyright NDTV Convergence Limited 2023. New and used auto sales are hotter than a car left in a mall parking lot all afternoon, and online sales may be the wave of the future. Coronavirus Tips Working and Protection. Type a symbol or company name. The PSUs value varies based on the banks return on tangible common equity and tangible book value per share over three years. Citi's Jane Fraser, the First Female CEO of a Major U.S. Bank, Gets $22.5 Million for 2021 . Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Oil Producers Hand $128 Billionto Investors as Doubts Grow About Future of Fossil Fuels, Your Saturday Briefing: Trumps Comeback Plan, Wall Street Whistles Away, British Parents Turn to Home Equity to Help Young Buy Property, Japanese Unions Seek Biggest Pay Rise in 25 Years for Workers, Sorry, Fed, Most US Mortgage Rates Were Locked In During Pandemic Lows. - Fraser officially took over at Citi on Feb. 26, replacing Mike Corbat, who earned $23 million in his final full year. Incentives matter too. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Jennifer Surane. Mr. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. Rather, Citi typifies the habit of paying bosses of high-performing banks much more than poorly performing ones. As CEO at CITIGROUP INC, Jane Fraser made $20,541,324 in total compensation. . Frasers compensation includes a $1.3 million cash salary, plus $6.4 million as a cash bonus and $14.8 million in shares payable over several years, with some of those linked to financial targets. Far better than ending up as a troubled bank with a demotivated leader. Her remarkable achievements have earned her some luxurious lifestyles and some fancy car trips. Before joining Citi, Jane was a Partner at McKinsey & Company. , The free newsletter covering the top industry headlines, By Anna Hrushka, Dan Ennis and Gabrielle Saulsbery , Encapture releases data validation solution to enhance compliance automation, By signing up to receive our newsletter, you agree to our, Webinar our Subscriber Agreement and by copyright law. Bank of America boss Brian Moynihan is in line for $32 million. For its 2021 fiscal year, CITIGROUP INC, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Written by You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. A proxy statement (or "proxy") is a form that every publicly traded U.S. company is required to file with the U.S. Securities & Exchange Commission (SEC) within 120 days after the end of its fiscal year. Mitsubishi Signs $1.9b Commuter Rail Deal With Manila: Nikkei, Twitter Revenue, Earnings Fell About 40% in December, WSJ Says, John Malone andCharter Directors Agree to $87.5 Million Settlement, China E-Commerce Giant JD Set for $1.4 Billion Discount Spree, Between Rounds of Golf, Trumps Searching for the Perfect DeSantis Diss, Your Saturday UK Briefing: Sunak Chalks Up a Win as the Budget Looms, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, Tom Sizemore, 'Saving Private Ryan' Actor, Dies at 61, The Exhibit Reality TV Show PittingArtist Against ArtistIs No Masterpiece. ET, Presented by studioID and Dun and Bradstreet, Webinar Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. . On that front, Axis Bank has emerged as the front-runner to acquire Citi's consumer-banking footprint in India in a deal that could be worth $2.5 billion, according to Bloomberg. 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All proxy statements are public filings made available to the general public by the SEC. The information shown here is a reporting of information included in the company's proxy statement. Its the only big U.S. bank stock that fell between Feb. 26, when Fraser took over, and the year end. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Let Banking Dive's free newsletter keep you informed, straight from your inbox. Since Fraser took over the reins at Citi (. See here for a complete list of exchanges and delays. We've received your submission. News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. In its filing Monday, Citi's compensation committee lauded Fraser's quick work in setting priorities for the bank. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. Ms Fraser's pay rise has made her the only big US bank boss to receive a bump amid a challenging year for the industry. Pelosi, other stock-trading pols could avoid capital gains REBNY's new return-to-office gauge paints bright view for 'trophy' towers, Food delivery maven unveils NYC shop after dumping Mercedes mobile kitchens, US home prices just did something they haven't done since 2012, JPMorgan Chase requires some workers give 6 months notice before quitting, This Girl Scout cookie flavor is reselling for $100 online -- here's why, Celeb-loved jewelry brand Dorsey drops dazzling new styles, White Lotus actor jokes about being hit on following shows success, Is this the couple behind the Worst Art Job Listing Ever?, Undertaker transforms coffin into barbecue grill, Kellyanne Conway and George Conway to divorce, Canadian teacher with size-Z prosthetic breasts placed on paid leave.