Morgan Stanley shares were up around 25% over the same time. Jane Fraser talks about the critical role of cross-border data in growing Citi's revenues and future business strategy. Educated at Girton College, Cambridge, and Harvard Business School, she was a partner at McKinsey & Company for 10 years before joining Citigroup in 2004. 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. 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. 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. She received a total incentive award of ~$21.17M, including a cash incentive of $6.35M, deferred stock of $4.23M and performance share units of $10.58M. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Ms. Fraser, who became chief executive on March 1, 2021, was given a salary of $1.33 million. As CEO at CITIGROUP INC, Jane Fraser made $20,541,324 in total compensation. All quotes delayed a minimum of 15 minutes. Ms. Fraser's predecessor, Michael Corbat, was paid $19.04 million by Citigroup in 2020. 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. This report is not for commercial use. Morgan Stanley shares were up around 25% over the same time. 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. Citi's Jane Fraser, the First Female CEO of a Major U.S. Bank, Gets $22.5 Million for 2021 . JPMorgan Chase & Cohead Jamie Dimon is receiving $34.5 million for 2021. Bank of America boss Brian Moynihan is in line for $32 million. 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. 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. The bulk of her compensation$14.82 millionis in restricted stock tied to performance metrics. Do Not Sell My Personal Information (CA Residents Only). David Westin speaks with top names in finance about the week's biggest issues on Wall Street. Thanks for contacting us. Incentives matter too. 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. - 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. 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. 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 was Citi's. This copy is for your personal, non-commercial use only. The information shown here is a reporting of information included in the company's proxy statement. Jane Fraser talks about the critical role of cross-border data in growing Citi's revenues and future business strategy. Rather, Citi typifies the habit of paying bosses of high-performing banks much more than poorly performing ones. ET, First Horizon warns TD deal may be in limbo, Citi to cut hundreds of investment banking, mortgage, tech jobs: reports, Senators urge Fed, OCC, FDIC and NCUA to keep close eye on Zelle, JPMorgan decries fishing expedition in Epstein case, How Banks are Better Navigating Industry Changes, Winning banking customer service in the COVID era, The rise of imitation banks may lead to regulatory scrutiny, Crypto Companies Behind Tether Used Falsified Documents and Shell Companies to Get Bank Accounts, N26 head of risk quits in escalating leadership crisis, How to Deliver Cost Savings While Improving Service in the Banking World, 2023 Economic Insight & Best Practices in Financial Risk Management, How to Decrease Errors & Fraud in Financial Institutions, Protecting your Financial Institution from Mobile Fraud Schemes in 2023, First Fidelity Bank enters BaaS space with Episode Six partnership, Ohio bank reaches $9M redlining settlement with DOJ, Goldman pins its hopes on asset and wealth management, While her compensation ranks well below industry leaders the CEOs of, Frasers $22.5 million for 2021 is also 18.2% more than the. See here for a complete list of exchanges and delays. This information is according to proxy statements filed for the 2021 fiscal year. (Source: @Citi) By 2019, she is said to have received $17.3 million in total remuneration. She worked as a Goldman Sachs analyst after receiving her degree in economics at Cambridge.. Her route to being the first woman to head a top 5 U.S. bank included stops at Goldman and McKinsey. JPMorgan trades at 1.8 times its book value; Citis valuation is less than half that. read more. 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. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. For its 2021 fiscal year, CITIGROUP INC, listed the following board members on its annual proxy statement to the SEC. 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. Not the one that runs along gender lines though Fraser does get a third less than her male peers. Jane Fraser's promotion as the incoming CEO of Citigroup will make her the first woman to head a major Wall Street bank. 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. 54, was granted stock awards totaling about $14.82 million, a cash bonus of $6.35 million and a $1. Let Banking Dive's free newsletter keep you informed, straight from your inbox. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. ; While her compensation ranks well below industry leaders the CEOs of Morgan Stanley and Goldman Sachs each made $35 million last year the package represents a 31.2% raise over the $17.15 million Fraser made as Citi's second-highest-ranking executive in 2020, according to The Wall . You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. From 2009 to 2013, Jane served as the Chief Executive Officer of Citi's Global Private Bank. 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. Jane Fraser's picture. Will His AI Plans Be Any Different? Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. Citigroup directors citedFrasers ability to establish a clear set of priorities aimed at increasing long-term shareholder value among the reasons behind the compensation. 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. The $1.33M base salary is consistent with the annualized rate of $1.5M for the 10. 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. (Editing by Lauren Silva Laughlin and Sharon Lam). These symbols will be available throughout the site during your session. That could fuel analysts questions at TDs earnings call Thursday. Thorough reviews have been conducted to assure this data accurately reflects disclosures. 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. Shes the first female CEO of a major US bank. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. CONTEXT NEWS. Thats less sensible than it sounds. - 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. Latest Update on the Future of Work at Citi. 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. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Fraser was paid $12.5 million last year, according to a company filing, or about half of Corbat's $24 million salary. 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. 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. The industry leader for online information for tax, accounting and finance professionals. The PSUs value varies based on the banks return on tangible common equity and tangible book value per share over three years. All quotes delayed a minimum of 15 minutes. | 1 p.m. 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. Jane Fraser addresses Brazil-US Business Council forum in Washington, DC in March 2019. She also received $16,800 in other forms of compensation. On her first day as CEO, she pledged that the bank would achieve net-zero greenhouse-gas emissionsin its financing activities by 2050. articles a month for anyone to read, even non-subscribers! CITIGROUP INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. 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? Thorough reviews have been conducted to assure this data accurately reflects disclosures. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. 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). Its the only big U.S. bank stock that fell between Feb. 26, when Fraser took over, and the year end.
Plano 787 Replacement Parts,
How To Inject Sculptra In Buttocks,
Nycha Taft Houses,
What Happened To Dave Roberson,
Articles J