That's down from 29% in the first year Citi reported the figures. 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. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. 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? 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 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. 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 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. If those targets are tough, setting pay in line with peers is therefore less like rewarding failure, and more like incentivizing competition. On her first day as CEO, she pledged that the bank would achieve net-zero greenhouse-gas emissionsin its financing activities by 2050. However, women make 99% of what men do when they're given the same titles and have similar levels of experience, Citi said. Citi's Jane Fraser, the First Female CEO of a Major U.S. Bank, Gets $22.5 Million for 2021 . But Frasers firm is less efficient, slower-growing and earns a lower return on equity. Citigroup Inc. paid Chief Executive Jane Fraser $24.5 million for 2022, up 9% from the prior year. Citis closest peer is JPMorgan, whose share return isnt meaningfully different. Our Standards: The Thomson Reuters Trust Principles. 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. - Fraser officially took over at Citi on Feb. 26, replacing Mike Corbat, who earned $23 million in his final full year. Since Fraser took over the reins at Citi (. In a chefs kiss of pay excess, Dimon and Solomon each got retention bonuses of around $50 million. Fraser has since set about selling Citis retail banking businesses outside the United States, including its Mexican franchise, Citibanamex. She took over as the first female chief executive of a major Wall Street bank in February 2021. Morgan Stanleys James Gorman and Goldman Sachss David Solomon were paid $35 million each for their work last year. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. This report is not for commercial use. 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. As CEO at CITIGROUP INC, Jane Fraser made $20,541,324 in total compensation. 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. Morgan Stanley shares were up around 25% over the same time. She received a salary of $500,000, a bonus of $4,801,276 and stock awards of $11,995,705. Vroom reports earnings. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. NEW YORK, Feb 15 (Reuters Breakingviews) - Jane Frasers $22.5 million package for running Citigroup (C.N) embodies a Wall Street pay gap. 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. Jane Fraser talks about the critical role of cross-border data in growing Citi's revenues and future business strategy. That could fuel analysts questions at TDs earnings call Thursday. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. 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. This report is not for commercial use. . 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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. In its filing Monday, Citi's compensation committee lauded Fraser's quick work in setting priorities for the bank. Rather, Citi typifies the habit of paying bosses of high-performing banks much more than poorly performing ones. Will His AI Plans Be Any Different? 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. But on Wall Street, she is a poor cousin. our Subscriber Agreement and by copyright law. Distribution and use of this material are governed by CITIGROUP INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. 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. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. CITIGROUP INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. . Fraserwas paid $17.1 million for 2020. 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. Citigroup directors cited Fraser's ability to establish a clear set of priorities aimed at increasing long-term shareholder value among the reasons behind the compensation. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. 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 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. 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. 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. JPMorgan trades at 1.8 times its book value; Citis valuation is less than half that. Ms Fraser received $9.2m in total compensation in 2018, for her work as chief executive of Citi's Latin American operations. As data privacy regulations around the See here for a complete list of exchanges and delays. 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. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Type a symbol or company name. Half of Frasers non-base-pay compensation derives from the PSUs. Thats less sensible than it sounds. Fraser has since set about selling Citis retail banking businesses outside the United States, including its Mexican franchise, Citibanamex. 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). Incentives matter too. 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. Our Standards: The Thomson Reuters Trust Principles. Thorough reviews have been conducted to assure this data accurately reflects disclosures. The $1.33M base salary is consistent with the annualized rate of $1.5M for the 10. Type a symbol or company name. 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. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. You may also find the annual proxy statement by going directly to the company's website. 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. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. The industry leader for online information for tax, accounting and finance professionals. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Dive Brief: Citi paid CEO Jane Fraser $22.5 million for 2021, the bank revealed in a filing Monday. She also received $16,800 in other forms of compensation. Fraser's rise is the result of a multiyear effort at Citi, the $74. Get the free daily newsletter read by industry experts. 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. 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. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. The Scottish-born Fraser has been with Citi since 2004 and currently oversees the banks massive global consumer banking operation. If a company isnt doing well, its board and investors should want the best person to clean it up. Incentives matter too. | 2 p.m. 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.

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