When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Venture capitalists swap Paris Hilton for Al Gore, US blacklisting is no match for TikTok virality, Editing by Lauren Silva Laughlin and Sharon Lam, Theres hope beyond moaning for European telcos, Adani contrarian is a win for Hindenburg, too, Exclusive news, data and analytics for financial market professionals. 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. As CEO at CITIGROUP INC, Jane Fraser made $20,541,324 in total compensation. See here for a complete list of exchanges and delays. 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). 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. 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. All rights reserved. But both its revenue and its earnings were lower than a year earlier, as credit card users reduced their activity. 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. - Fraser officially took over at Citi on Feb. 26, replacing Mike Corbat, who earned $23 million in his final full year. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Vroom reports earnings. Jane Fraser addresses Brazil-US Business Council forum in Washington, DC in March 2019. 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. Citigroup reported a 21% decline in fourth-quarter profit in January 2022, which missed forecasts. (The author is a Reuters Breakingviews columnist. This website follows the DNPA Code of Ethics Copyright NDTV Convergence Limited 2023. JPMorgan trades at 1.8 times its book value; Citis valuation is less than half that. JPMorgans Jamie Dimon and Bank of Americas Brian Moynihan were a whisker behind, at $34.5 million and $32 million, respectively. Incentives matter too. Feb. 28. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Continue reading your article witha WSJ subscription, Already a member? 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. It was a Friday. Subscribe to Banking Dive for top news, trends & analysis. 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. 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. 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. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. CONTEXT NEWS. Amazon Pauses Construction on Second Headquarters in Virginia as It Cuts Jobs, Amazon Is Closing Its Cashierless Stores in NYC, San Francisco and Seattle, iPhone Maker Plans $700 Million India Plant in Shift From China, Stock Traders Are Ignoring Blaring Bond Alarms, S&P 500 Notches Best Week Since Late January: Markets Wrap. She's the only CEO of a top-six U.S. bank to receive a raise last year. Morgan Stanleys James Gorman and Goldman Sachss David Solomon were paid $35 million each for their work last year. Ms Fraser received $9.2m in total compensation in 2018, for her work as chief executive of Citi's Latin American operations. All quotes delayed a minimum of 15 minutes. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Ms Fraser's total pay in 2021 was $22.5 million. Citis closest peer is JPMorgan, whose share return isnt meaningfully different. Far better than ending up as a troubled bank with a demotivated leader. Fraser's compensation includes a $1.3 million cash. Citigroup directors citedFrasers ability to establish a clear set of priorities aimed at increasing long-term shareholder value among the reasons behind the compensation. Jane Fraser talks about the critical role of cross-border data in growing Citi's revenues and future business strategy. She took over as the first female chief executive of a major Wall Street bank in February 2021. - 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. All quotes delayed a minimum of 15 minutes. Ms. Fraser, who became chief executive on March 1, 2021, was given a salary of $1.33 million. That was when it really hit me that . 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. 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. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Is this happening to you frequently? 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. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. - 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. - 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. 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. 2023 NYP Holdings, Inc. 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. Dive Brief: Citi paid CEO Jane Fraser $22.5 million for 2021, the bank revealed in a filing Monday. Educated at Girton College, Cambridge, and Harvard Business School, she was a partner at McKinsey & Company for 10 years before joining Citigroup in 2004. 54, was granted stock awards totaling about $14.82 million, a cash bonus of $6.35 million and a $1. March 24, 2021. 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. CITIGROUP INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}Sign In, Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Manish Sisodia's Custody Extended, CBI Told Not To Repeat Questions, In Karnataka, Arvind Kejriwal Twist To BJP's "Double-Engine Government", Flu Cases With Severe Symptoms Rise, Centre Issues Advisory: 10 Facts, "Grateful Adani Group Has Shown Faith In Australia": Ex PM Tony Abbott, "I Gave Up": Shark Tank Judge Namita Thapar Reveals Her Struggles With IVF, Here's How To Avoid Covid-Like Flu Sweeping Across India, "World's 1st" Bamboo Crash Barrier Installed In Maharashtra: Nitin Gadkari, Influencer Andrew Tate, Facing Human Trafficking Charges, Has Lung Cancer, Rajya Sabha MP Kapil Sibal Announces Platform To Fight Injustice. The information shown here is a reporting of information included in the company's proxy statement. Ms Fraser's total pay in 2021 was $22.5 million. Mike Corbat, Citigroup's chief executive, was paid $24m last year. 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. 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. 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. Morgan Stanley shares were up around 25% over the same time. Citi in 2018 chose to reveal raw pay gap data, becoming the first U.S. bank of its size to do so, and it typically posts yearly updates on its progress narrowing the wage gap. See here for a complete list of exchanges and delays. JPMorgan Chase & Cohead Jamie Dimon is receiving $34.5 million for 2021. - Fraser officially took over at Citi on Feb. 26, replacing Mike Corbat, who earned $23 million in his final full year. 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. Mitsubishi Signs $1.9b Commuter Rail Deal With Manila: Nikkei, Twitter Revenue, Earnings Fell About 40% in December, WSJ Says, John Malone andCharter Directors Agree to $87.5 Million Settlement, China E-Commerce Giant JD Set for $1.4 Billion Discount Spree, Between Rounds of Golf, Trumps Searching for the Perfect DeSantis Diss, Your Saturday UK Briefing: Sunak Chalks Up a Win as the Budget Looms, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, Tom Sizemore, 'Saving Private Ryan' Actor, Dies at 61, The Exhibit Reality TV Show PittingArtist Against ArtistIs No Masterpiece. 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 . Rather, Citi typifies the habit of paying bosses of high-performing banks much more than poorly performing ones. Get the free daily newsletter read by industry experts. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. 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. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. 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. 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%. Frasers compensation is less than that previously announced for more experienced CEOs of other big banks, which are more profitable. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. This report is not for commercial use. For its 2021 fiscal year, CITIGROUP INC, listed the following board members on its annual proxy statement to the SEC. Create your Watchlist to save your favorite quotes on Nasdaq.com. Jane Fraser's salary per month and other career earnings are over $1.2 million dollars annually. This report is not for commercial use. Conrad Sangma To Be Sworn In As Meghalaya Chief Minister On March 7. Her main source of income is from her primary work as a business executive and CEO. Let Banking Dive's free newsletter keep you informed, straight from your inbox. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 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. We've received your submission. See here for a complete list of exchanges and delays. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. That's down from 29% in the first year Citi reported the figures. Morgan Stanleys (MS.N) James Gorman read more and Goldman Sachss (GS.N) David Solomon were paid $35 million each for their work last year. , 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 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. 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. Harsher penalties, a fiercer fight over ESG philosophy and a more urgent push to regulate crypto appear poised to roil the finance sector this year. The opinions expressed are his own.). Type a symbol or company name. I vividly remember March 6 last year. 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. 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. Its the only big U.S. bank stock that fell between Feb. 26, when Fraser took over, and the year end. 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. CITIGROUP INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. The Tennessee bank, in a filing Wednesday, said TD does not expect regulatory approval by the deal's May 27 extended deadline. The bulk of her compensation$14.82 millionis in restricted stock tied to performance metrics. Jane Fraser talks about the critical role of cross-border data in growing Citi's revenues and future business strategy. Jane Fraser's picture. Since Fraser took over the reins at Citi (. 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. This information is according to proxy statements filed for the 2021 fiscal year. Fraser, 54, comes to the role of CEO armed with a resume straight out of Wall Street central casting.
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