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Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. 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. American Airlines and its flight attendants union on Friday jointly applied for federal mediation in contract negotiations. Our Standards: The Thomson Reuters Trust Principles. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. JPMorgan trades at 1.8 times its book value; Citis valuation is less than half that. 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. Thorough reviews have been conducted to assure this data accurately reflects disclosures. 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. Reuters, the news and media division of Thomson Reuters, is the worlds largest international multimedia news provider reaching more than one billion people every day. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Fraser formally took the helm at Citi last February after being named as Mike Corbat's successor in 2020. You may also find the annual proxy statement by going directly to the company's website. CITIGROUP INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. See here for a complete list of exchanges and delays. Goldman Sachs Group Inc (GS.N) CEO David Solomon and Morgan Stanley (MS.N) CEO James Gorman are both getting $35 million, while Brian Moynihan, CEO of Bank of America Corp (BAC.N), is receiving $32 million. Jane Fraser, Citigroup's incoming CEO, announced a new accountability-focused team on Tuesday. 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. 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. Bank of America boss Brian Moynihan is in line for $32 million. While Chiefs at other big banks, including Goldman and Morgan Stanley, took a pay cut, Citigroup Inc paid Chief Executive Jane Fraser $24.5. 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. Citigroup directors cited Fraser's ability to establish a clear set of priorities aimed at increasing long-term shareholder value among the reasons behind the compensation. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. 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. In addition, she makes $17,313,800 as President and Chief Executive Officer at Citigroup Inc. 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? But both its revenue and its earnings were lower than a year earlier, as credit card users reduced their activity. 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. Ms. Fraser, who became chief executive on March 1, 2021, was given a salary of $1.33 million. Rapper, chef and author Action Bronson takes us on a journey from his early days at culinary school, to releasing critically acclaimed albums, to writing books, starring in TV shows and building an iconic brand around his favorite interests. Fraser's compensation is less than that previously announced for more experienced CEOs of other big banks, which are more profitable. The "global . Morgan Stanley shares were up around 25% over the same time. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. All quotes delayed a minimum of 15 minutes. If a company isnt doing well, its board and investors should want the best person to clean it up. 54, was granted stock awards totaling about $14.82 million, a cash bonus of $6.35 million and a $1. 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. 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. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 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. Mr. 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. Not the one that runs along gender lines though Fraser does get a third less than her male peers. CEO compensation has risen steadily since the late 1970s. | 1 p.m. Mike Corbat, Citigroup's chief executive, was paid $24m last year. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Fraser's rise is the result of a multiyear effort at Citi, the $74. For non-personal use or to order multiple copies, please contact As data privacy regulations around the Jane Fraser net worth is estimated at around $25 million. Ms Fraser's total pay in 2021 was $22.5 million. Will His AI Plans Be Any Different? 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. . She joined Citi in 2004 in the Corporate and Investment Banking division. Vroom reports earnings. On her first day as CEO, she pledged that the bank would achieve net-zero greenhouse-gas emissionsin its financing activities by 2050. 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. Her main source of income is from her primary work as a business executive and CEO. Our Standards: The Thomson Reuters Trust Principles. As data privacy regulations around the 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. 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. Jane Fraser talks about the critical role of cross-border data in growing Citi's revenues and future business strategy. She worked as a Goldman Sachs analyst after receiving her degree in economics at Cambridge.. The $1.33M base salary is consistent with the annualized rate of $1.5M for the 10. 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 also find the annual proxy statement by going directly to the company's website. 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. JPMorgans Jamie Dimon and Bank of Americas Brian Moynihan were a whisker behind, at $34.5 million and $32 million, respectively. Coronavirus Tips Working and Protection. Type a symbol or company name. 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. Citi picks Jane Fraser as next CEO first woman to lead the bank. Thorough reviews have been conducted to assure this data accurately reflects disclosures. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Fraser was paid a salary of $1.33 million and a cash bonus of $6.35 million when he became CEO on March 1, 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. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. 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. our Subscriber Agreement and by copyright law. Citigroup reported a 21% decline in fourth-quarter profit in January 2022, which missed forecasts. On the surface, Citis performance explains the difference. This website follows the DNPA Code of Ethics Copyright NDTV Convergence Limited 2023. In its filing Monday, Citi's compensation committee lauded Fraser's quick work in setting priorities for the bank. Citi veteran Jane Fraser has been named Michael Corbat's successor. For its 2021 fiscal year, CITIGROUP INC, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Shes the first female CEO of a major US bank. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. She's the only CEO of a top-six U.S. bank to receive a raise last year. In a chefs kiss of pay excess, Dimon and Solomon each got retention bonuses of around $50 million. Shareholders dont want to see an executive strike gold when they have not, and investor advisers like Institutional Shareholder Services tend to oppose pay packages out of line with stock returns. That could fuel analysts questions at TDs earnings call Thursday. . This copy is for your personal, non-commercial use only. Ms Fraser received $9.2m in total compensation in 2018, for her work as chief executive of Citi's Latin American operations. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. 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). Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. The majority of her pay$14.82 million in restricted stock tied to performance metricsis in restricted stock. 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. The Tennessee bank, in a filing Wednesday, said TD does not expect regulatory approval by the deal's May 27 extended deadline. Want to share a company announcement with your peers? She has been tasked with simplifying the banks structure and getting its profitability on par with rivals. Type a symbol or company name. 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. Thats less sensible than it sounds. Morgan Stanleys James Gorman and Goldman Sachss David Solomon were paid $35 million each for their work last year. During her 18-year career at Citi, Jane has held leadership roles across Citi's consumer and institutional businesses. Jane Fraser's picture. .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}Sign In, Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Please disable your ad-blocker and refresh. - 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. Jane Fraser's salary per month and other career earnings are over $1.2 million dollars annually. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. 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. All quotes delayed a minimum of 15 minutes. She has been CEO of four Citi units and presently heads up a fifth and the largest, the Global Consumer Bank and is President of the entire company. She is the. Her route to being the first woman to head a top 5 U.S. bank included stops at Goldman and McKinsey. Educated at Girton College, Cambridge, and Harvard Business School, she was a partner at McKinsey & Company for 10 years before joining Citigroup in 2004. See here for a complete list of exchanges and delays. | 2 p.m. , 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 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. If you have an ad-blocker enabled you may be blocked from proceeding. Citis closest peer is JPMorgan, whose share return isnt meaningfully different. CONTEXT NEWS. To any normal human, Fraser makes out like a bandit, getting 350 times more than the average New York City household https://www.census.gov/quickfacts/newyorkcitynewyork. The Scottish-born Fraser has been with Citi since 2004 and currently oversees the banks massive global consumer banking operation. Its the only big U.S. bank stock that fell between Feb. 26, when Fraser took over, and the year end. Its the only big U.S. bank stock that fell between Feb. 26, when Fraser took over, and the year end. 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