jane fraser citi salary

Citigroup Chief Executive JaneFraser will take home total compensation of $22.5 million for 2021 a nearly 32% increase from the previous year, the bank said Monday. All proxy statements are public filings made available to the general public by the SEC. Ms Fraser's total pay in 2021 was $22.5 million. She took over as the first female chief executive of a major Wall Street bank in February 2021. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Citigroup Inc. paid new Chief Executive Jane Fraser $22.5 million for her first year on the job. Ms. Fraser, who became chief executive on March 1, 2021, was given a salary of $1.33 million. Besides, since the bulk of a CEOs pay package is drip-fed to them in shares over several years, and linked to financial targets, what Fraser eventually takes home depends on how she performs. Follow @johnsfoley https://twitter.com/johnsfoley on Twitter. JPMorgan trades at 1.8 times its book value; Citis valuation is less than half that. JPMorgans (JPM.N) Jamie Dimon read more and Bank of Americas (BAC.N) Brian Moynihan were a whisker behind, at $34.5 million and $32 million, respectively. 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). 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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. | 2 p.m. Her main source of income is from her primary work as a business executive and CEO. 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. , 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 Ms. Fraser owns over 32,400 units of Citigroup Inc stock worth over $5,179,478 and over the last 5 years she sold C stock worth over $2,512,944. CITIGROUP INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. 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. As data privacy regulations around the Citi in 2018 chose to reveal raw pay gap data, becoming the first U.S. bank of its size to do so, and it typically posts yearly updates on its progress narrowing the wage gap. Conrad Sangma To Be Sworn In As Meghalaya Chief Minister On March 7. In a regulatory filing on Tuesday, Citi said Fraser's pay consisted of a $1.5mn base salary and a $23mn bonus paid in a mix of cash, deferred stock and performance share units. But Fraser starts off on the back foot, thanks to years of value destruction under predecessor Mike Corbat. On the surface, Citis performance explains the difference. 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. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. 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. 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. She's the only CEO of a top-six U.S. bank to receive a raise last year. Will Others Follow? - Citigroup's board awarded Chief Executive Jane Fraser $22.5 million for running the U.S. bank in 2021, according to a filing on Feb. 14. She received a total incentive award of ~$21.17M, including a cash incentive of $6.35M, deferred stock of $4.23M and performance share units of $10.58M. Female employees at the bank made 26% less than male employees as of January 2021, Sara Wechter, Citi's head of human resources, wrote in a blog post. 54, was granted stock awards totaling about $14.82 million, a cash bonus of $6.35 million and a $1. March 24, 2021. She has been tasked with simplifying the bank's structure and getting its profitability on par with rivals. Mr. Her route to being the first woman to head a top 5 U.S. bank included stops at Goldman and McKinsey. She joined Citi in 2004 in the Corporate and Investment Banking division. Vroom reports earnings. She received a salary of $500,000, a bonus of $4,801,276 and stock awards of $11,995,705. Before becoming CEO, she was . Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. But on Wall Street, she is a poor cousin. See here for a complete list of exchanges and delays. This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, No Major Offer Expected on Childcare in UK Budget, Biden Gives Medal of Honor to Trailblazing Special Forces Member, Climate Change Is Launching a MutantSeed Space Race, UK Braces for Rare Weather Event That Risks Late-Winter Freeze, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? Citigroup Inc. awarded Chief Executive Officer Jane Fraser $24.5 million in pay for 2022, making her the only major US bank CEO to receive a bump in compensation for the year. On the surface, Citis performance explains the difference. The opinions expressed are his own.). Fraser is a 16-year veteran of the bank and held a succession of important leadership roles for marquee divisions at Citi, including serving as the chief executive for the U.S. consumer and. Fiscal Year Ended in 2021 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. If those targets are tough, setting pay in line with peers is therefore less like rewarding failure, and more like incentivizing competition. She has started to dismantle Citis decades-old sprawl, selling off retail banking divisions in Asia and Europe, and putting its Mexican arm on the auction block, but those massive changes will take a while to pay off. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. JPMorgans Jamie Dimon and Bank of Americas Brian Moynihan were a whisker behind, at $34.5 million and $32 million, respectively. She also received $16,800 in other forms of compensation. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Citi picks Jane Fraser as next CEO first woman to lead the bank. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Rather, Citi typifies the habit of paying bosses of high-performing banks much more than poorly performing ones. CEO compensation has risen steadily since the late 1970s. All quotes delayed a minimum of 15 minutes. Since Fraser took over the reins at Citi (. The bulk of her compensation$14.82 millionis in restricted stock tied to performance metrics. On her first day as CEO, she pledged that the bank would achieve net-zero greenhouse-gas emissionsin its financing activities by 2050. Before joining Citi, Jane was a Partner at McKinsey & Company. Morgan Stanley shares were up around 25% over the same time. Type a symbol or company name. 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Fraser's rise is the result of a multiyear effort at Citi, the $74. You may also find the annual proxy statement by going directly to the company's website. You may also find the annual proxy statement by going directly to the company's website. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV. Frasers compensation is less than that previously announced for more experienced CEOs of other big banks, which are more profitable. The PSUs value varies based on the banks return on tangible common equity and tangible book value per share over three years. Before joining Citi, she was a partner at McKinsey & Co. Fraserformally took the helm at Citi last February after being named as Mike Corbats successor in 2020. JPMorgan trades at 1.8 times its book value; Citis valuation is less than half that. If those targets are tough, setting pay in line with peers is therefore less like rewarding failure, and more like incentivizing competition. Fraserwas paid $17.1 million for 2020. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. - Fraser officially took over at Citi on Feb. 26, replacing Mike Corbat, who earned $23 million in his final full year. Will His AI Plans Be Any Different? See here for a complete list of exchanges and delays. In its filing Monday, Citi's compensation committee lauded Fraser's quick work in setting priorities for the bank. The majority of her pay$14.82 million in restricted stock tied to performance metricsis in restricted stock. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. This copy is for your personal, non-commercial use only. CITIGROUP INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. This website follows the DNPA Code of Ethics Copyright NDTV Convergence Limited 2023. Fraser has since set about selling Citis retail banking businesses outside the United States, including its Mexican franchise, Citibanamex. CITIGROUP INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Not the one that runs along gender lines though Fraser does get a third less than her male peers. - Citigroups board awarded Chief Executive Jane Fraser $22.5 million for running the U.S. bank in 2021, according to a filing on Feb. 14. Jane Fraser is the Chief Executive Officer of Citi, the world's most global bank, serving millions of consumers, businesses and institutions across 160 countries and jurisdictions. For its 2021 fiscal year, CITIGROUP INC, listed the following board members on its annual proxy statement to the SEC. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Far better than ending up as a troubled bank with a demotivated leader. Bank of America boss Brian Moynihan is in line for $32 million. Ms. Fraser's predecessor, Michael Corbat, was paid $19.04 million by Citigroup in 2020. our Subscriber Agreement and by copyright law. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Morgan Stanleys James Gorman and Goldman Sachss David Solomon were paid $35 million each for their work last year. Let Banking Dive's free newsletter keep you informed, straight from your inbox.

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