jane fraser citi salary jane fraser citi salary

Fraserwas paid $17.1 million for 2020. 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. Much of the attention surrounding Frasers pay may stem from her gender. The majority of her pay$14.82 million in restricted stock tied to performance metricsis in restricted stock. Our Standards: The Thomson Reuters Trust Principles. 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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. Jane Fraser's promotion as the incoming CEO of Citigroup will make her the first woman to head a major Wall Street bank. Not the one that runs along gender lines though Fraser does get a third less than her male peers. The estimated Net Worth of Jane Nind Fraser is at least $25 Million dollars as of 27 February 2018. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. . Copy and paste multiple symbols separated by spaces. 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. If you have an ad-blocker enabled you may be blocked from proceeding. 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If a company isnt doing well, its board and investors should want the best person to clean it up. CITIGROUP INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Her main source of income is from her primary work as a business executive and CEO. For its 2021 fiscal year, CITIGROUP INC, listed the following board members on its annual proxy statement to the SEC. See here for a complete list of exchanges and delays. Citigroup reported a 21% decline in fourth-quarter profit in January 2022, which missed forecasts. Fraser's compensation includes a $1.3 . Do Not Sell My Personal Information (CA Residents Only). For its 2021 fiscal year, CITIGROUP INC, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Her route to being the first woman to head a top 5 U.S. bank included stops at Goldman and McKinsey. 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. 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. Jane Fraser is the Chief Executive Officer of Citi, the world's most global bank, serving millions of consumers, businesses and institutions across 160 countries and jurisdictions. Fraser's rise is the result of a multiyear effort at Citi, the $74. CEO compensation has risen steadily since the late 1970s. The Tennessee bank, in a filing Wednesday, said TD does not expect regulatory approval by the deal's May 27 extended deadline. But Frasers firm is less efficient, slower-growing and earns a lower return on equity. 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). Jennifer Surane. (The author is a Reuters Breakingviews columnist. American Airlines and its flight attendants union on Friday jointly applied for federal mediation in contract negotiations. Her pay is still below the $34.5 million of JPMorgan & Chase Co's JPM.N CEO Jamie Dimon, and Morgan Stanley (MS.N) CEO James Gorman's $31.5 million, according to Reuters data. - Fraser officially took over at Citi on Feb. 26, replacing Mike Corbat, who earned $23 million in his final full year. March 24, 2021. In Fraser's first year as CEO, the bank also submitted plans to the OCC and the Federal Reserve to address how to resolve its 2020 consent orders. All quotes delayed a minimum of 15 minutes. The industry leader for online information for tax, accounting and finance professionals. 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. Opinions expressed are those of the author. CONTEXT NEWS. 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 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. . 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. 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. 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. 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. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 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. 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. - 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. 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. The PSUs value varies based on the banks return on tangible common equity and tangible book value per share over three years. 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. Please. Shes the first female CEO of a major US bank. Get the free daily newsletter read by industry experts. , 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 While Chiefs at other big banks, including Goldman and Morgan Stanley, took a pay cut, Citigroup Inc paid Chief Executive Jane Fraser $24.5. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. She also received $16,800 in other forms of compensation. In a chefs kiss of pay excess, Dimon and Solomon each got retention bonuses of around $50 million. Her remarkable achievements have earned her some luxurious lifestyles and some fancy car trips. Continue reading your article witha WSJ subscription, Already a member? The industry leader for online information for tax, accounting and finance professionals. But on Wall Street, she is a poor cousin. 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. 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. Our Standards: The Thomson Reuters Trust Principles. 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. 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. 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. Citis closest peer is JPMorgan, whose share return isnt meaningfully different. 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 took over as the first female chief executive of a major Wall Street bank in February 2021. Before joining Citi, she was a partner at McKinsey & Co. Fraserformally took the helm at Citi last February after being named as Mike Corbats successor in 2020. This information is according to proxy statements filed for the 2021 fiscal year. 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 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. 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. "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. 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%. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Written by .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}Sign In, Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Frasers compensation is less than that previously announced for more experienced CEOs of other big banks, which are more profitable. In its filing Monday, Citi's compensation committee lauded Fraser's quick work in setting priorities for the bank. To any normal human, Fraser makes out like a bandit, getting 350 times more than the average New York City household. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. https://www.wsj.com/articles/citigroups-jane-fraser-gets-22-5-million-for-first-year-as-ceo-11644877691. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. 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 talks about the critical role of cross-border data in growing Citi's revenues and future business strategy. Jane Fraser addresses Brazil-US Business Council forum in Washington, DC in March 2019. Conrad Sangma To Be Sworn In As Meghalaya Chief Minister On March 7. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. ET, Presented by studioID and Dun and Bradstreet, Webinar 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. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. Follow @johnsfoley https://twitter.com/johnsfoley on Twitter. But both its revenue and its earnings were lower than a year earlier, as credit card users reduced their activity. Jane Fraser's picture. This website follows the DNPA Code of Ethics Copyright NDTV Convergence Limited 2023. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. Will His AI Plans Be Any Different? The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. articles a month for anyone to read, even non-subscribers! In a chefs kiss of pay excess, Dimon and Solomon each got retention bonuses of around $50 million. Citigroup (NYSE: C) CEO Jane Fraser gets total compensation of $22.5M for 2021, the company said in a filing. For its 2021 fiscal year, CITIGROUP INC, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Fraser formally took the helm at Citi last February after being named as Mike Corbat's successor in 2020. Track Latest News and Election Results Coverage Live on NDTV.com and get news updates from India and around the world. 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. 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. Shareholders dont want to see an executive strike gold when they have not, and investor advisers like Institutional Shareholder Services tend to oppose pay packages out of line with stock returns. - 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. 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. 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. JPMorgan trades at 1.8 times its book value; Citis valuation is less than half that. Half of Frasers non-base-pay compensation derives from the PSUs. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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. Type a symbol or company name. Ms. Fraser's predecessor, Michael Corbat, was paid $19.04 million by Citigroup in 2020. That's down from 29% in the first year Citi reported the figures. Bank of America boss Brian Moynihan is in line for $32 million. 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. Citigroup Inc. paid new Chief Executive Jane Fraser $22.5 million for her first year on the job. 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. Ms Fraser's total pay in 2021 was $22.5 million. 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. But Fraser starts off on the back foot, thanks to years of value destruction under predecessor Mike Corbat. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. CITIGROUP INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. See here for a complete list of exchanges and delays. JPMorgan trades at 1.8 times its book value; Citis valuation is less than half that. - 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. Bank of America boss Brian Moynihan is in line for $32 million. Feb. 28. All rights reserved. These symbols will be available throughout the site during your session. All quotes delayed a minimum of 15 minutes. Mike Corbat, Citigroup's chief executive, was paid $24m last year. Coronavirus Tips Working and Protection. Citi's Jane Fraser, the First Female CEO of a Major U.S. Bank, Gets $22.5 Million for 2021 . 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. 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. She received a salary of $500,000, a bonus of $4,801,276 and stock awards of $11,995,705. NEW YORK, Feb 15 (Reuters Breakingviews) - Jane Frasers $22.5 million package for running Citigroup (C.N) embodies a Wall Street pay gap. That could fuel analysts questions at TDs earnings call Thursday. 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. CITIGROUP INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. Mr. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. The Scottish-born Fraser has been with Citi since 2004 and currently oversees the banks massive global consumer banking operation. Morgan Stanley shares were up around 25% over the same time. Citigroup Inc. paid new Chief Executive Jane Fraser $22.5 million for her first year on the job. 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. 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. Ms Fraser received $9.2m in total compensation in 2018, for her work as chief executive of Citi's Latin American operations. The bulk of her compensation$14.82 millionis in restricted stock tied to performance metrics. Is this happening to you frequently? Type a symbol or company name. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Since Fraser took over the reins at Citi (. 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. 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. But Fraser starts off on the back foot, thanks to years of value destruction under predecessor Mike Corbat. For non-personal use or to order multiple copies, please contact 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. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Musk Made a Mess at Twitter. Citis closest peer is JPMorgan, whose share return isnt meaningfully different. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Before joining Citi, Jane was a Partner at McKinsey & Company. It was a Friday. JPMorgan Chase & Co (JPM.N) head Jamie Dimon is receiving $34.5 million for 2021. Ms. Fraser received a $1.5 million salary and a $3.45 million cash bonus, according to a. California Weighs $360,000 in Reparations to Eligible Black Residents. Citigroup Inc. awarded Chief Executive Officer Jane Fraser $24.5 million in pay for 2022, making her the only major US bank CEO to receive a bump in compensation for the year. (Editing by Lauren Silva Laughlin and Sharon Lam). Jane Fraser, Chief Executive Officer, Citi. Coronavirus Tips Working and Protection, For its 2021 fiscal year, CITIGROUP INC, listed the following executives on its annual proxy statement to the SEC. 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. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Fraser, 54, comes to the role of CEO armed with a resume straight out of Wall Street central casting. Jane Fraser, Citigroup's incoming CEO, announced a new accountability-focused team on Tuesday. We've received your submission. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. Thats up from 35% last year. Its the only big U.S. bank stock that fell between Feb. 26, when Fraser took over, and the year end. Incentives matter too. You may also find the annual proxy statement by going directly to the company's website. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Distribution and use of this material are governed by 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. Citigroup Inc. paid Chief Executive Jane Fraser $24.5 million for 2022, up 9% from the prior year. Shareholders dont want to see an executive strike gold when they have not, and investor advisers like Institutional Shareholder Services tend to oppose pay packages out of line with stock returns. | 1 p.m. See here for a complete list of exchanges and delays. Incentives matter too. | 2 p.m.