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. All proxy statements are public filings made available to the general public by the SEC. Frasers compensation breaks down to a $1.33 million annual salary, a $6.35 million cash incentive, $4.23 million in deferred stock that vests over four years and $10.58 million in performance share units (PSUs). Thorough reviews have been conducted to assure this data accurately reflects disclosures. (Source: @Citi) By 2019, she is said to have received $17.3 million in total remuneration. Citigroup Chief Executive Jane Fraser will take home total compensation of $22.5 million for 2021 a nearly 32% increase from the previous year, the bank said Monday. 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The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. Copy and paste multiple symbols separated by spaces. For its 2021 fiscal year, CITIGROUP INC, listed the following CEO pay ratio data on its annual proxy statement to the SEC. That would leave China, Russia, Poland and Bahrain as well as Mexico as the markets from which Citi has yet to determine an exit plan. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Fraser has since set about selling Citis retail banking businesses outside the United States, including its Mexican franchise, Citibanamex. However, women make 99% of what men do when they're given the same titles and have similar levels of experience, Citi said. Thats up from 35% last year. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. But both its revenue and its earnings were lower than a year earlier, as credit card users reduced their activity. Our Standards: The Thomson Reuters Trust Principles. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. In this episode, Bronson explains how the lessons he learned in the kitchen translated to the booth, the reason money can never be the motivation for creating art, and why he believes that imperfections are the best part of any masterpiece. This information is according to proxy statements filed for the 2021 fiscal year. The majority of her pay$14.82 million in restricted stock tied to performance metricsis in restricted stock. Fraser, 54, was granted stock awards totaling about $14.82 million, a cash bonus of $6.35 million and a $1.33 million salary, the New York-based bank said Monday in a filing. 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. Ms. Fraser's predecessor, Michael Corbat, was paid $19.04 million by Citigroup in 2020. Ms. Fraser received a $1.5 million salary and a $3.45 million cash bonus, according to a. 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. 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. 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. Citi had slashed Corbat's pay by 21% to $19 million for his final year in the job as the pandemic hit the bank's profits and shortcomings emerged in its risk controls. 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. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Please. All proxy statements are public filings made available to the general public by the SEC. - 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. Rather, Citi typifies the habit of paying bosses of high-performing banks much more than poorly performing ones. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. JPMorgan Chase & Co (JPM.N) head Jamie Dimon is receiving $34.5 million for 2021. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. 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. Get the free daily newsletter read by industry experts. But Fraser starts off on the back foot, thanks to years of value destruction under predecessor Mike Corbat. Morgan Stanleys James Gorman and Goldman Sachss David Solomon were paid $35 million each for their work last year. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. During her 18-year career at Citi, Jane has held leadership roles across Citi's consumer and institutional businesses. Ms. Fraser, who .css-1h1us5y-StyledLink{color:var(--interactive-text-color);-webkit-text-decoration:underline;text-decoration:underline;}.css-1h1us5y-StyledLink:hover{-webkit-text-decoration:none;text-decoration:none;}became chief executive on March 1, 2021, was given a salary of $1.33 million and a cash bonus of $6.35 million. 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). 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. 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. Citigroup Inc. paid Chief Executive Jane Fraser $24.5 million for 2022, up 9% from the prior year. If a company isnt doing well, its board and investors should want the best person to clean it up. All rights reserved. Jane Fraser net worth is estimated at around $25 million. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. The "global . Citigroup Inc. paid new Chief Executive Jane Fraser $22.5 million for her first year on the job. I left the office and walked down to the grocery store to stock up and there was not one vegetablefresh or frozenleft on any of the shelves. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Track Latest News and Election Results Coverage Live on NDTV.com and get news updates from India and around the world. Fraser's 2022 pay package included a $1.5 million salary, a $3.45 million cash bonus and $19.6 million in stock awards, per Bloomberg. Ms. Fraser, who became chief executive on March 1, 2021, was given a salary of $1.33 million. She took over as the first female chief executive of a major Wall Street bank in February 2021. The information shown here is a reporting of information included in the company's proxy statement. Topics include: Commercial banking, payments, technology, risk, regulations, policy, Topics covered: bank/fintech relationship, banks buying fintechs, regulation, risk of neobanks and much more. Bank of America boss Brian Moynihan is in line for $32 million. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 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. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Thats less sensible than it sounds. Her main source of income is from her primary work as a business executive and CEO. 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. Feb. 28. Jane Fraser talks about the critical role of cross-border data in growing Citi's revenues and future business strategy. Will Others Follow? Jane Fraser's picture. On the surface, Citis performance explains the difference. 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. CITIGROUP INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. For its 2021 fiscal year, CITIGROUP INC, listed the following CEO pay ratio data on its annual proxy statement to the SEC. articles a month for anyone to read, even non-subscribers! Frasers compensation is less than that previously announced for more experienced CEOs of other big banks, which are more profitable. The information shown here is a reporting of information included in the company's proxy statement. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. California Weighs $360,000 in Reparations to Eligible Black Residents. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. On the surface, Citis performance explains the difference. CITIGROUP INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. JPMorgan Chase & Cohead Jamie Dimon is receiving $34.5 million for 2021. The estimated Net Worth of Jane Nind Fraser is at least $25 Million dollars as of 27 February 2018. CITIGROUP INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. She also set in motion a strategy last April to withdraw from 13 retail banking markets in the Eastern Hemisphere and later added Mexico to that list. This copy is for your personal, non-commercial use only. Jane Fraser's promotion as the incoming CEO of Citigroup will make her the first woman to head a major Wall Street bank. See here for a complete list of exchanges and delays. As data privacy regulations around the Follow @johnsfoley https://twitter.com/johnsfoley on Twitter. 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All Rights Reserved, Citi hikes pay for junior bankers despite Wall Street layoffs: report, Goldman Sachs may slash bonuses for 3,000 investment bankers by 40%: report, Risk of a US recession now approaching 50%: Citigroup analysis, Goldman Sachs to give senior bankers unlimited vacation to rest and recharge: report. If those targets are tough, setting pay in line with peers is therefore less like rewarding failure, and more like incentivizing competition. In her first year as CEO, Jane Fraser quickly set to work on a strategic refresh and announced plans to shed consumer banking assets around the globe. All quotes delayed a minimum of 15 minutes. She has been tasked with simplifying the bank's structure and getting its profitability on par with rivals. Subscribe to Banking Dive for top news, trends & analysis. In addition, she makes $17,313,800 as President and Chief Executive Officer at Citigroup Inc. CITIGROUP INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. The proxy statement's main purpose is to alert shareholders to the annual meeting and provide them information about the issues that will be voted on during the annual meeting, including decisions such as electing directors, ratifying the selection of auditors, and other shareholder-related decisions, including shareholder-initiated initiatives. 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. 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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. . 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. (Editing by Lauren Silva Laughlin and Sharon Lam). Musk Made a Mess at Twitter. Get started 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. Citi had slashed Corbats pay by 21% to $19 million for his final year in the job as the pandemic hit the banks profits and shortcomings emerged in its risk controls. - 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. Far better than ending up as a troubled bank with a demotivated leader. Fraser was paid $12.5 million last year, according to a company filing, or about half of Corbat's $24 million salary. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Citis closest peer is JPMorgan, whose share return isnt meaningfully different. The chart on this page features a breakdown of the total annual pay for Jane Fraser, CEO at CITIGROUP INC as reported in their proxy statements. - 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. In a chefs kiss of pay excess, Dimon and Solomon each got retention bonuses of around $50 million. Jane Fraser, Chief Executive Officer, Citi. Much of the attention surrounding Frasers pay may stem from her gender. She's the only CEO of a top-six U.S. bank to receive a raise last year. Citigroup directors citedFrasers ability to establish a clear set of priorities aimed at increasing long-term shareholder value among the reasons behind the compensation. Let Banking Dive's free newsletter keep you informed, straight from your inbox. But on Wall Street, she is a poor cousin. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. NEW YORK, Feb 15 (Reuters Breakingviews) - Jane Frasers $22.5 million package for running Citigroup (C.N) embodies a Wall Street pay gap. Vroom reports earnings. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Fraserwas paid $17.1 million for 2020.
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