Citigroup Inc. paid Chief Executive Jane Fraser $24.5 million for 2022, up 9% from the prior year. Our Standards: The Thomson Reuters Trust Principles. The Citi Blog - Latest Update on the Future of Work at Citi 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. As data privacy regulations around the This report is not for commercial use. Topics include: Commercial banking, payments, technology, risk, regulations, policy, Topics covered: bank/fintech relationship, banks buying fintechs, regulation, risk of neobanks and much more. "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. Jane Fraser - Net Worth 2021, Salary, Age, Height, Bio, Family, Career. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. Jane Fraser's picture. Thorough reviews have been conducted to assure this data accurately reflects disclosures. Jane Fraser Net Worth 2023, Age, Husband, Children, Height, Family Mr. 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. Will Others Follow? 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. Written by NEW YORK, Feb 15 (Reuters Breakingviews) - Jane Frasers $22.5 million package for running Citigroup (C.N) embodies a Wall Street pay gap. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Far better than ending up as a troubled bank with a demotivated leader. 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. 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. 54, was granted stock awards totaling about $14.82 million, a cash bonus of $6.35 million and a $1. As CEO at CITIGROUP INC, Jane Fraser made $20,541,324 in total compensation. Citi boosts Fraser's pay 8.9% to $24.5M | Banking Dive Tony Marinella on LinkedIn: Citi on LinkedIn: CEO Jane Fraser | CNBC Subscribe to Banking Dive for top news, trends & analysis. Citis closest peer is JPMorgan, whose share return isnt meaningfully different. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Follow @johnsfoley https://twitter.com/johnsfoley on Twitter. Citi pays Fraser $22.5M in her first year as CEO | Banking Dive She has been tasked with simplifying the bank's structure and getting its profitability on par with rivals. The bulk of her compensation$14.82 millionis in restricted stock tied to performance metrics. 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. Our Standards: The Thomson Reuters Trust Principles. Citigroup reported a 21% decline in fourth-quarter profit in January 2022, which missed forecasts. Citigroup directors citedFrasers ability to establish a clear set of priorities aimed at increasing long-term shareholder value among the reasons behind the compensation. Her pay is still below the $34.5 million of JPMorgan & Chase Co's JPM.N CEO Jamie Dimon, and Morgan Stanley (MS.N) CEO James Gorman's $31.5 million, according to Reuters data. For non-personal use or to order multiple copies, please contact On her first day as CEO, she pledged that the bank would achieve net-zero greenhouse-gas emissionsin its financing activities by 2050. Will His AI Plans Be Any Different? Jane Fraser's salary per month and other career earnings are over $1.2 million dollars annually. Jennifer Surane. 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. - 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. 50% off + free delivery on any order with DoorDash promo code, 60% off running shoes and apparel at Nike without a promo code, Score up to 50% off Nintendo Switch video games with GameStop coupon code. Half of Frasers non-base-pay compensation derives from the PSUs. Citigroup CEO Jane Fraser gets $22.5M pay package for 2021 | 2 p.m. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Bank of America boss Brian Moynihan is in line for $32 million. The information shown here is a reporting of information included in the company's proxy statement. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. In its filing Monday, Citi's compensation committee lauded Fraser's quick work in setting priorities for the bank. Its the only big U.S. bank stock that fell between Feb. 26, when Fraser took over, and the year end. 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). Jane Fraser (born 1967) [1] is a British - American banking executive and the chief executive (CEO) of Citigroup, a position she has held since March 2021. | 1 p.m. In addition, she makes $17,313,800 as President and Chief Executive Officer at Citigroup Inc. We've received your submission. Citigroup (NYSE: C) CEO Jane Fraser gets total compensation of $22.5M for 2021, the company said in a filing. Citi's incoming CEO Jane Fraser forms new operating team to build Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. 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. 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. Dive Brief: Citi paid CEO Jane Fraser $22.5 million for 2021, the bank revealed in a filing Monday. Citigroup raises Fraser's pay by 32% after appointing her as CEO Opinions expressed are those of the author. Before becoming CEO, she was . But Frasers firm is less efficient, slower-growing and earns a lower return on equity. See here for a complete list of exchanges and delays. This report is not for commercial use. 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. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. 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. Citigroup Inc. paid new Chief Executive Jane Fraser $22.5 million for her first year on the job. Jane Fraser on Rethinking Citigroup's Mission, Inclusivity | TIME Jane Fraser - CEO - Citi | LinkedIn But Frasers firm is less efficient, slower-growing and earns a lower return on equity. CITIGROUP INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. From 2009 to 2013, Jane served as the Chief Executive Officer of Citi's Global Private Bank. 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? That was when it really hit me that . Ms. Fraser's predecessor, Michael Corbat, was paid $19.04 million by Citigroup in 2020. 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. Morgan Stanleys James Gorman and Goldman Sachss David Solomon were paid $35 million each for their work last year. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Educated at Girton College, Cambridge, and Harvard Business School, she was a partner at McKinsey & Company for 10 years before joining Citigroup in 2004. American Airlines and its flight attendants union on Friday jointly applied for federal mediation in contract negotiations. The Tennessee bank, in a filing Wednesday, said TD does not expect regulatory approval by the deal's May 27 extended deadline. Thanks for contacting us. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Ms Fraser's total pay in 2021 was $22.5 million. That's down from 29% in the first year Citi reported the figures. 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. Her route to being the first woman to head a top 5 U.S. bank included stops at Goldman and McKinsey. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. These symbols will be available throughout the site during your session. Fraserwas paid $17.1 million for 2020. March 24, 2021. 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. .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}Sign In, Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. CITIGROUP INC Executive Salaries & Other Compensation - Salary.com JPMorgan Chase & Co (JPM.N) head Jamie Dimon is receiving $34.5 million for 2021. 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. Her $1.33 million salary represents 10 months at Citis usual CEO pay rate of $1.5 million per year because Fraser took over the banks top role March 1, the bank said. Jane Fraser Bio, Age, Family, Husband, House, Salary, Net, Citigroup She is the. Fraser was Citi's. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
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