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. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Citi's Jane Fraser embodies Wall Street's pay gap | Nasdaq Fraser's compensation includes a $1.3 . All quotes delayed a minimum of 15 minutes. It was a Friday. Follow @johnsfoley https://twitter.com/johnsfoley on Twitter. 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. 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 the head of its consumer businesses, the bank disclosed on Monday. On her first day as CEO, she pledged that the bank would achieve net-zero greenhouse-gas emissionsin its financing activities by 2050. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Citis closest peer is JPMorgan, whose share return isnt meaningfully different. This report is not for commercial use. In January, Citi reported a profit of $4.6 billion on revenue of $16.5 billion. 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. 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. Ms Fraser's total pay in 2021 was $22.5 million. 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. Ms Fraser's total pay in 2021 was $22.5 million. Bank of America boss Brian Moynihan is in line for $32 million. CITIGROUP INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Jane Fraser Bio, Age, Family, Husband, House, Salary, Net, Citigroup The bulk of her compensation$14.82 millionis in restricted stock tied to performance metrics. On the surface, Citis performance explains the difference. Citi paid CEO Jane Fraser $24.5 million for 2022, an 8.9% increase over the $22.5 million she made the previous year, according to a filing the bank made Tuesday with the Securities and Exchange Commission. This information is according to proxy statements filed for the 2021 fiscal year. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Jane Fraser's promotion as the incoming CEO of Citigroup will make her the first woman to head a major Wall Street bank. But Fraser starts off on the back foot, thanks to years of value destruction under predecessor Mike Corbat. Not the one that runs along gender lines though Fraser does get a third less than her male peers. Citigroup said on Tuesday it provides regulators with its plans and progress on remediation efforts on an ongoing basis and is working constructively with the regulators to take their feedback. 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. 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. Coronavirus Tips Working and Protection, For its 2021 fiscal year, CITIGROUP INC, listed the following executives on its annual proxy statement to the SEC. 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 rise is the result of a multiyear effort at Citi, the $74. CONTEXT NEWS. Please. She has been tasked with simplifying the banks structure and getting its profitability on par with rivals. The "global . 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? 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. To narrow the gap in the raw data, the bank has embarked on an effort to level up to at least 40% the proportion of women in its assistant vice president through managing director roles. The $1.33M base salary is consistent with the annualized rate of $1.5M for the 10. This report is not for commercial use. As data privacy regulations around the 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. 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. You may also find the annual proxy statement by going directly to the company's website. Citigroup's Jane Fraser to receive $12.5m pay grant Jane Fraser - Net Worth 2021, Salary, Age, Height, Bio, Family, Career. Jane Fraser Net Worth 2023, Age, Husband, Children, Height, Family Its the only big U.S. bank stock that fell between Feb. 26, when Fraser took over, and the year end. Incentives matter too. 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. The Scottish-born Fraser has been with Citi since 2004 and currently oversees the banks massive global consumer banking operation. 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 talks about the critical role of cross-border data in growing Citi's revenues and future business strategy. But on Wall Street, she is a poor cousin. See here for a complete list of exchanges and delays. She worked as a Goldman Sachs analyst after receiving her degree in economics at Cambridge.. CITIGROUP INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Track Latest News and Election Results Coverage Live on NDTV.com and get news updates from India and around the world. The PSUs value varies based on the banks return on tangible common equity and tangible book value per share over three years. 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. 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. 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All Rights Reserved. Want to share a company announcement with your peers? Fraser's compensation is less than that previously announced for more experienced CEOs of other big banks, which are more profitable. 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. 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. Ms. Fraser's predecessor, Michael Corbat, was paid $19.04 million by Citigroup in 2020. Copy and paste multiple symbols separated by spaces. 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. Latest Update on the Future of Work at Citi. read more. See here for a complete list of exchanges and delays. Feb. 28. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. In addition, she makes $17,313,800 as President and Chief Executive Officer at Citigroup Inc. Far better than ending up as a troubled bank with a demotivated leader. 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. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. 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. (The author is a Reuters Breakingviews columnist. See here for a complete list of exchanges and delays. Please disable your ad-blocker and refresh. Citigroup CEO Jane Fraser's total pay for 2023 set at $24.5 million https://www.wsj.com/articles/citigroups-jane-fraser-gets-22-5-million-for-first-year-as-ceo-11644877691. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Citigroup's Jane Fraser Gets $22.5 Million for First Year as CEO The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. She joined Citi in 2004 in the Corporate and Investment Banking division. But both its revenue and its earnings were lower than a year earlier, as credit card users reduced their activity. Jane Fraser's picture. Educated at Girton College, Cambridge, and Harvard Business School, she was a partner at McKinsey & Company for 10 years before joining Citigroup in 2004. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. To any normal human, Fraser makes out like a bandit, getting 350 times more than the average New York City household. , 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 Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. All rights reserved. Mike Corbat, Citigroup's chief executive, was paid $24m last year.
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