Morgan Stanleys James Gorman and Goldman Sachss David Solomon were paid $35 million each for their work last year. While Chiefs at other big banks, including Goldman and Morgan Stanley, took a pay cut, Citigroup Inc paid Chief Executive Jane Fraser $24.5. 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. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 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. Meet Citi's Next CEO & Learn How She Climbed to the Top As CEO at CITIGROUP INC, Jane Fraser made $20,541,324 in total compensation. JPMorgan Chase & Co (JPM.N) head Jamie Dimon is receiving $34.5 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. 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. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. - 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. - 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. Citigroup CEO Jane Fraser gets $22.5M pay package for 2021 However, women make 99% of what men do when they're given the same titles and have similar levels of experience, Citi said. I vividly remember March 6 last year. 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. 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(Editing by Lauren Silva Laughlin and Sharon Lam). Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. In its filing Monday, Citi's compensation committee lauded Fraser's quick work in setting priorities for the bank. The industry leader for online information for tax, accounting and finance professionals. 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. Type a symbol or company name. 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. 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. Jane Fraser - CEO - Citi | LinkedIn 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. Jane Fraser's salary per month and other career earnings are over $1.2 million dollars annually. The Citi Blog - Latest Update on the Future of Work at Citi Citigroup's Jane Fraser Will Be The First Female CEO Of A - Forbes When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Jane Fraser Net Worth (2022) | wallmine 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. Jane Fraser (executive) - Wikipedia Tony Marinella on LinkedIn: Citi on LinkedIn: CEO Jane Fraser | CNBC For non-personal use or to order multiple copies, please contact 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. Citigroup's Jane Fraser to receive $12.5m pay grant Jane Fraser Has to Fix Citigroup. It Will Be a Tough Job. - Moneycontrol If a company isnt doing well, its board and investors should want the best person to clean it up. Jane Fraser Bio, Age, Family, Husband, House, Salary, Net, Citigroup The majority of her pay$14.82 million in restricted stock tied to performance metricsis in restricted stock. 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. Mr. Ms Fraser's total pay in 2021 was $22.5 million. CITIGROUP INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. The information shown here is a reporting of information included in the company's proxy statement. Citigroup (C) Awards CEO Jane Fraser $22.5 Million for 2021 - Bloomberg.com The information shown here is a reporting of information included in the company's proxy statement. Vroom reports earnings. 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's total pay in 2021 was $22.5 million. - Fraser officially took over at Citi on Feb. 26, replacing Mike Corbat, who earned $23 million in his final full year. Jane Fraser's picture. Jane Fraser net worth is estimated at around $25 million. Fraser, 54, comes to the role of CEO armed with a resume straight out of Wall Street central casting. On the surface, Citis performance explains the difference. Want to share a company announcement with your peers? 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. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. If you have an ad-blocker enabled you may be blocked from proceeding. 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. 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. 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. Track Latest News and Election Results Coverage Live on NDTV.com and get news updates from India and around the world. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Bank of America boss Brian Moynihan is in line for $32 million. - 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. CITIGROUP INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Written by The $1.33M base salary is consistent with the annualized rate of $1.5M for the 10. These symbols will be available throughout the site during your session. Fraser was paid $12.5 million last year, according to a company filing, or about half of Corbat's $24 million salary. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. She also received $16,800 in other forms of compensation. "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. That could fuel analysts questions at TDs earnings call Thursday. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. 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). She worked as a Goldman Sachs analyst after receiving her degree in economics at Cambridge.. 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. 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. In addition, she makes $17,313,800 as President and Chief Executive Officer at Citigroup Inc. Continue reading your article witha WSJ subscription, Already a member? 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. Thanks for contacting us. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. 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. Topics include: Commercial banking, payments, technology, risk, regulations, policy, Topics covered: bank/fintech relationship, banks buying fintechs, regulation, risk of neobanks and much more. . Our Standards: The Thomson Reuters Trust Principles. Not the one that runs along gender lines though Fraser does get a third less than her male peers. Citigroup CEO Jane Fraser's total pay for 2023 set at $24.5 million The estimated Net Worth of Jane Nind Fraser is at least $25 Million dollars as of 27 February 2018. Jane Fraser - Net Worth 2021, Salary, Age, Height, Bio, Family, Career. Citigroup's Jane Fraser Bucks Bank Rivals as 2022 Pay Rises to $24.5 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. https://www.wsj.com/articles/citigroups-jane-fraser-gets-22-5-million-for-first-year-as-ceo-11644877691. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. She is the. 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. Ms. Fraser's predecessor, Michael Corbat, was paid $19.04 million by Citigroup in 2020. articles a month for anyone to read, even non-subscribers! Educated at Girton College, Cambridge, and Harvard Business School, she was a partner at McKinsey & Company for 10 years before joining Citigroup in 2004. Citigroup CEO Jane Fraser to get $22.5 million payday - New York Post JPMorgan trades at 1.8 times its book value; Citis valuation is less than half that. But Frasers firm is less efficient, slower-growing and earns a lower return on equity. Latest Update on the Future of Work at Citi. 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. While Other Bank CEOs Take Pay Cuts, Citigroup's CEO Jane Fraser Gets a Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. The bulk of her compensation$14.82 millionis in restricted stock tied to performance metrics. Dive Brief: Citi paid CEO Jane Fraser $22.5 million for 2021, the bank revealed in a filing Monday. To any normal human, Fraser makes out like a bandit, getting 350 times more than the average New York City household. . 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 received $9.2m in total compensation in 2018, for her work as chief executive of Citi's Latin American operations. 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. Citigroup Raises CEO Jane Fraser's Salary To $24.5 Million Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. 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. American Airlines and its flight attendants union on Friday jointly applied for federal mediation in contract negotiations. Get started Is this happening to you frequently? Citigroup Inc. paid new Chief Executive Jane Fraser $22.5 million for her first year on the job. CITIGROUP INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. 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. Half of Frasers non-base-pay compensation derives from the PSUs. Let Banking Dive's free newsletter keep you informed, straight from your inbox. But Fraser starts off on the back foot, thanks to years of value destruction under predecessor Mike Corbat. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. If a company isnt doing well, its board and investors should want the best person to clean it up. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. But on Wall Street, she is a poor cousin. As data privacy regulations around the Jane Fraser talks about the critical role of cross-border data in growing Citi's revenues and future business strategy. All proxy statements are public filings made available to the general public by the SEC. Jane Fraser, Citigroup's incoming CEO, announced a new accountability-focused team on Tuesday. Far better than ending up as a troubled bank with a demotivated leader. Coronavirus Tips Working and Protection. Citigroup directors citedFrasers ability to establish a clear set of priorities aimed at increasing long-term shareholder value among the reasons behind the compensation. Please disable your ad-blocker and refresh. Her route to being the first woman to head a top 5 U.S. bank included stops at Goldman and McKinsey. Bank of America boss Brian Moynihan is in line for $32 million. Fraser was Citi's. Please. Jane Fraser on Rethinking Citigroup's Mission, Inclusivity | TIME Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year.
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