Incentives matter too. Bank of America boss Brian Moynihan is in line for $32 million. For non-personal use or to order multiple copies, please contact 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. 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. 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. Prior, Jane was the Global Head of Strategy and Mergers & Acquisitions for Citi from 2007 to 2009. 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. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Topics include: Commercial banking, payments, technology, risk, regulations, policy, Topics covered: bank/fintech relationship, banks buying fintechs, regulation, risk of neobanks and much more. The Scottish-born Fraser has been with Citi since 2004 and currently oversees the banks massive global consumer banking operation. Fraser has since set about selling Citis retail banking businesses outside the United States, including its Mexican franchise, Citibanamex. She joined Citi in 2004 in the Corporate and Investment Banking division. The Tennessee bank, in a filing Wednesday, said TD does not expect regulatory approval by the deal's May 27 extended deadline. Not the one that runs along gender lines though Fraser does get a third less than her male peers. JPMorgan Chase & Cohead Jamie Dimon is receiving $34.5 million for 2021. Type a symbol or company name. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Copy and paste multiple symbols separated by spaces. Jane Fraser | Chief Executive Officer, Citi - Citigroup 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. Thorough reviews have been conducted to assure this data accurately reflects disclosures. 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. Ms Fraser's total pay in 2021 was $22.5 million. 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 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). JPMorgan trades at 1.8 times its book value; Citis valuation is less than half that. For its 2021 fiscal year, CITIGROUP INC, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Ms Fraser's total pay in 2021 was $22.5 million. 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. Get the free daily newsletter read by industry experts. This report is not for commercial use. Do Not Sell My Personal Information (CA Residents Only). CITIGROUP INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. 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. Since Fraser took over the reins at Citi (. Citigroup's Jane Fraser Will Be The First Female CEO Of A - Forbes That's down from 29% in the first year Citi reported the figures. Much of the attention surrounding Frasers pay may stem from her gender. If a company isnt doing well, its board and investors should want the best person to clean it up. If you have an ad-blocker enabled you may be blocked from proceeding. 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. 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. Jane Fraser, Citigroup's incoming CEO, announced a new accountability-focused team on Tuesday. "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. 54, was granted stock awards totaling about $14.82 million, a cash bonus of $6.35 million and a $1. Half of Frasers non-base-pay compensation derives from the PSUs. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Dive Brief: Citi paid CEO Jane Fraser $22.5 million for 2021, the bank revealed in a filing Monday. Jane Fraser - CEO - Citi | LinkedIn During her 18-year career at Citi, Jane has held leadership roles across Citi's consumer and institutional businesses. Thats less sensible than it sounds. She worked as a Goldman Sachs analyst after receiving her degree in economics at Cambridge.. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. CEO compensation has risen steadily since the late 1970s. In addition, she makes $17,313,800 as President and Chief Executive Officer at Citigroup Inc. Jane Fraser Has to Fix Citigroup. It Will Be a Tough Job. - Moneycontrol Jane Fraser's salary per month and other career earnings are over $1.2 million dollars annually. 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. Citigroup (NYSE: C) CEO Jane Fraser gets total compensation of $22.5M for 2021, the company said in a filing. 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%. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Citi veteran Jane Fraser has been named Michael Corbat's successor. Coronavirus Tips Working and Protection. 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. Is this happening to you frequently? You may also find the annual proxy statement by going directly to the company's website. Citi on LinkedIn: Citi CEO Jane Fraser shares her perspective on Goldman Sachs Group IncCEO David Solomon and Morgan StanleyCEO James Gorman are both getting $35 million, while Brian Moynihan, CEO of Bank of America Corp, is receiving $32 million. Mike Corbat, Citigroup's chief executive, was paid $24m last year. Fraser has since set about selling Citis retail banking businesses outside the United States, including its Mexican franchise, Citibanamex. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. our Subscriber Agreement and by copyright law. Rather, Citi typifies the habit of paying bosses of high-performing banks much more than poorly performing ones. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. CITIGROUP INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. 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. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. 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. California Weighs $360,000 in Reparations to Eligible Black Residents. On the surface, Citis performance explains the difference. Please. Before joining Citi, Jane was a Partner at McKinsey & Company. Musk Made a Mess at Twitter. Citigroup Raises CEO Jane Fraser's Salary To $24.5 Million Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. She took over as the first female chief executive of a major Wall Street bank in February 2021. Citis closest peer is JPMorgan, whose share return isnt meaningfully different. 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. Fraser was Citis president and head of the consumer business for the 2020 pay period. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. But both its revenue and its earnings were lower than a year earlier, as credit card users reduced their activity. This information is according to proxy statements filed for the 2021 fiscal year. Shes the first female CEO of a major US bank. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Citi CEO Jane Fraser shares her perspective on banking's shifting leadership landscape and the opportunity for diverse styles on CNBC Closing Bell: "I hope to Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. Thanks for contacting us. 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's Jane Fraser Gets $22.5 Million for First Year as CEO Tony Marinella on LinkedIn: Citi on LinkedIn: CEO Jane Fraser | CNBC You may also find the annual proxy statement by going directly to the company's website. 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. Fraser was paid $12.5 million last year, according to a company filing, or about half of Corbat's $24 million salary. Fraser's compensation includes a $1.3 million cash. 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. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. The estimated Net Worth of Jane Nind Fraser is at least $25 Million dollars as of 27 February 2018. But on Wall Street, she is a poor cousin. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. 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. Subscribe to Banking Dive for top news, trends & analysis. 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. 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. 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.