Coronavirus Tips Working and Protection, For its 2021 fiscal year, CITIGROUP INC, listed the following executives on its annual proxy statement to the SEC. Please. 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. CEO compensation has risen steadily since the late 1970s. 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. While Chiefs at other big banks, including Goldman and Morgan Stanley, took a pay cut, Citigroup Inc paid Chief Executive Jane Fraser $24.5. 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. Thats less sensible than it sounds. CITIGROUP INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Citi's Jane Fraser, the First Female CEO of a Major U.S. Bank, Gets $22.5 Million for 2021 . 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. 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. Morgan Stanley shares were up around 25% over the same time. The information shown here is a reporting of information included in the company's proxy statement. Citi's Jane Fraser embodies Wall Street's pay gap | Reuters Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Jane Fraser Net Worth (2022) | wallmine We've received your submission. Fraser's rise is the result of a multiyear effort at Citi, the $74. Meet Citi's Next CEO & Learn How She Climbed to the Top But Frasers firm is less efficient, slower-growing and earns a lower return on equity. 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. Jane Fraser talks about the critical role of cross-border data in growing Citi's revenues and future business strategy. 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. For non-personal use or to order multiple copies, please contact Ms Fraser received $9.2m in total compensation in 2018, for her work as chief executive of Citi's Latin American operations. Jane Fraser addresses Brazil-US Business Council forum in Washington, DC in March 2019. . Citigroup's Jane Fraser is doing the unthinkable on Wall Street - CNN 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. She has been tasked with simplifying the bank's structure and getting its profitability on par with rivals. Fraser was Citis president and head of the consumer business for the 2020 pay period. 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. our Subscriber Agreement and by copyright law. 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. During her 18-year career at Citi, Jane has held leadership roles across Citi's consumer and institutional businesses. 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. Citigroup (C) Awards CEO Jane Fraser $22.5 Million for 2021 - Bloomberg.com articles a month for anyone to read, even non-subscribers! Jane Fraser Has to Fix Citigroup. It Will Be a Tough Job. - Moneycontrol 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. All proxy statements are public filings made available to the general public by the SEC. But Frasers firm is less efficient, slower-growing and earns a lower return on equity. Citigroup directors citedFrasers ability to establish a clear set of priorities aimed at increasing long-term shareholder value among the reasons behind the compensation. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Fraser formally took the helm at Citi last February after being named as Mike Corbat's successor in 2020. - 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. Jennifer Surane. - 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. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. The PSUs value varies based on the banks return on tangible common equity and tangible book value per share over three years. This information is according to proxy statements filed for the 2021 fiscal year. Citi on LinkedIn: Citi CEO Jane Fraser shares her perspective on Vroom reports earnings. Before becoming CEO, she was . As data privacy regulations around the Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Citigroup's Jane Fraser Bucks Bank Rivals as 2022 Pay Rises to $24.5 (Editing by Lauren Silva Laughlin and Sharon Lam). While Other Bank CEOs Take Pay Cuts, Citigroup's CEO Jane Fraser Gets a Morgan Stanleys James Gorman and Goldman Sachss David Solomon were paid $35 million each for their work last year. 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). Jane Fraser on Rethinking Citigroup's Mission, Inclusivity | TIME Written by | 2 p.m. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. The Tennessee bank, in a filing Wednesday, said TD does not expect regulatory approval by the deal's May 27 extended deadline. All proxy statements are public filings made available to the general public by the SEC. - 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. Opinions expressed are those of the author. 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. In addition, she makes $17,313,800 as President and Chief Executive Officer at Citigroup Inc. 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 most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. 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. NEW YORK (Reuters Breakingviews) - Jane Frasers $22.5 million package https://www.sec.gov/ix?doc=/Archives/edgar/data/0000831001/000110465922022820/c-20220210x8k.htm for running Citigroup embodies a Wall Street pay gap. As CEO at CITIGROUP INC, Jane Fraser made $20,541,324 in total compensation. 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John Foley for 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%. It was a Friday. The bulk of her compensation$14.82 millionis in restricted stock tied to performance metrics. For its 2021 fiscal year, CITIGROUP INC, listed the following board members on its annual proxy statement to the SEC. JPMorgan trades at 1.8 times its book value; Citis valuation is less than half that. Jane Fraser Bio, Age, Family, Husband, House, Salary, Net, Citigroup Will Others Follow? Her main source of income is from her primary work as a business executive and CEO. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. This copy is for your personal, non-commercial use only. In a chefs kiss of pay excess, Dimon and Solomon each got retention bonuses of around $50 million. Feb. 28. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. read more. 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. 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. Thats less sensible than it sounds. "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. Citigroup Inc. paid new Chief Executive Jane Fraser $22.5 million for her first year on the job. Its the only big U.S. bank stock that fell between Feb. 26, when Fraser took over, and the year end. Will His AI Plans Be Any Different? Jane Fraser's picture. See here for a complete list of exchanges and delays. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Far better than ending up as a troubled bank with a demotivated leader. Citigroup CEO Jane Fraser gets $22.5M pay package for 2021 Thats up from 35% last year. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. She joined Citi in 2004 in the Corporate and Investment Banking division. She is the. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. She received a salary of $500,000, a bonus of $4,801,276 and stock awards of $11,995,705. The industry leader for online information for tax, accounting and finance professionals. 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. California Weighs $360,000 in Reparations to Eligible Black Residents. 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. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Prior, Jane was the Global Head of Strategy and Mergers & Acquisitions for Citi from 2007 to 2009. The $1.33M base salary is consistent with the annualized rate of $1.5M for the 10. - Fraser officially took over at Citi on Feb. 26, replacing Mike Corbat, who earned $23 million in his final full year. JPMorgan Chase & Cohead Jamie Dimon is receiving $34.5 million for 2021. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Leadership Team - Jane Fraser | Citi To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Citigroup's Jane Fraser to receive $12.5m pay grant Fraser, 54, comes to the role of CEO armed with a resume straight out of Wall Street central casting. Copy and paste multiple symbols separated by spaces. The information shown here is a reporting of information included in the company's proxy statement. Since Fraser took over the reins at Citi (. She has been tasked with simplifying the banks structure and getting its profitability on par with rivals. But Fraser starts off on the back foot, thanks to years of value destruction under predecessor Mike Corbat. Do Not Sell My Personal Information (CA Residents Only). Shes the first female CEO of a major US bank. 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. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. . Musk Made a Mess at Twitter. Its the only big U.S. bank stock that fell between Feb. 26, when Fraser took over, and the year end. Not the one that runs along gender lines though Fraser does get a third less than her male peers. Coronavirus Tips Working and Protection. Ms Fraser's total pay in 2021 was $22.5 million. But on Wall Street, she is a poor cousin. While Chiefs at other big banks, including Goldman and Morgan Stanley, took a pay cut, Citigroup Inc paid Chief Executive Jane Fraser $24.5 million for 2022, up 9 per cent from the prior year, reported Wall Street Journal. 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. March 24, 2021. 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. 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