Do Not Sell My Personal Information (CA Residents Only). All proxy statements are public filings made available to the general public by the SEC. 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. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. This report is not for commercial use. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 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 . articles a month for anyone to read, even non-subscribers! Jane Fraser on Rethinking Citigroup's Mission, Inclusivity | TIME Citigroup (NYSE: C) CEO Jane Fraser gets total compensation of $22.5M for 2021, the company said in a filing. 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. Educated at Girton College, Cambridge, and Harvard Business School, she was a partner at McKinsey & Company for 10 years before joining Citigroup in 2004. But on Wall Street, she is a poor cousin. Copy and paste multiple symbols separated by spaces. Subscribe to Banking Dive for top news, trends & analysis. 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. She joined Citi in 2004 in the Corporate and Investment Banking division. Create your Watchlist to save your favorite quotes on Nasdaq.com. Ms. Fraser, who became chief executive on March 1, 2021, was given a salary of $1.33 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. 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. Please disable your ad-blocker and refresh. Incentives matter too. Our Standards: The Thomson Reuters Trust Principles. Jane Fraser Has to Fix Citigroup. It Will Be a Tough Job. - Moneycontrol 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. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Rather, Citi typifies the habit of paying bosses of high-performing banks much more than poorly performing ones. 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. Fraser's rise is the result of a multiyear effort at Citi, the $74. Citigroup CEO Jane Fraser Gets $24.5 Million 2022 Paycheck, Up 9% See here for a complete list of exchanges and delays. Frasers compensation is less than that previously announced for more experienced CEOs of other big banks, which are more profitable. Citi's incoming CEO Jane Fraser forms new operating team to build The industry leader for online information for tax, accounting and finance professionals. Follow @johnsfoley https://twitter.com/johnsfoley on Twitter. https://www.wsj.com/articles/citigroups-jane-fraser-gets-22-5-million-for-first-year-as-ceo-11644877691. Jane Fraser Bio, Age, Family, Husband, House, Salary, Net, Citigroup 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. Harsher penalties, a fiercer fight over ESG philosophy and a more urgent push to regulate crypto appear poised to roil the finance sector this year. Citigroup's Jane Fraser to receive $12.5m pay grant Citi picks Jane Fraser as next CEO first woman to lead the bank Thanks for contacting us. 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. Type a symbol or company name. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. You may also find the annual proxy statement by going directly to the company's website. She received a salary of $500,000, a bonus of $4,801,276 and stock awards of $11,995,705. But on Wall Street, she is a poor cousin. Opinions expressed are those of the author. But Frasers firm is less efficient, slower-growing and earns a lower return on equity. Thats less sensible than it sounds. Citigroup CEO Jane Fraser gets $22.5M pay package for 2021 Citigroup CEO Jane Fraser's total pay for 2023 set at $24.5 million Track Latest News and Election Results Coverage Live on NDTV.com and get news updates from India and around the world. 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. That could fuel analysts questions at TDs earnings call Thursday. 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. Morgan Stanley shares were up around 25% over the same time. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Much of the attention surrounding Frasers pay may stem from her gender. 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 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. The opinions expressed are his own.). 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. ET, Presented by studioID and Dun and Bradstreet, Webinar 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). This copy is for your personal, non-commercial use only. 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). All quotes delayed a minimum of 15 minutes. The majority of her pay$14.82 million in restricted stock tied to performance metricsis in restricted stock. We've received your submission. The "global . 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? Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. The information shown here is a reporting of information included in the company's proxy statement. If those targets are tough, setting pay in line with peers is therefore less like rewarding failure, and more like incentivizing competition. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Tony Marinella on LinkedIn: Citi on LinkedIn: CEO Jane Fraser | CNBC They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. In addition, she makes $17,313,800 as President and Chief Executive Officer at Citigroup Inc. Ms. Fraser's predecessor, Michael Corbat, was paid $19.04 million by Citigroup in 2020. Leadership Team - Jane Fraser | Citi From 2009 to 2013, Jane served as the Chief Executive Officer of Citi's Global Private Bank. Citigroup raises Fraser's pay by 32% after appointing her as CEO Fraser formally took the helm at Citi last February after being named as Mike Corbat's successor in 2020. Jane Fraser (executive) - Wikipedia 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. Citi veteran Jane Fraser has been named Michael Corbat's successor. This information is according to proxy statements filed for the 2021 fiscal year. The bulk of her compensation$14.82 millionis in restricted stock tied to performance metrics. JPMorgans Jamie Dimon and Bank of Americas Brian Moynihan were a whisker behind, at $34.5 million and $32 million, respectively. 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. 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. Ms Fraser received $9.2m in total compensation in 2018, for her work as chief executive of Citi's Latin American operations. 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. In a chefs kiss of pay excess, Dimon and Solomon each got retention bonuses of around $50 million. You may also find the annual proxy statement by going directly to the company's website. 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 However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Mitsubishi Signs $1.9b Commuter Rail Deal With Manila: Nikkei, Twitter Revenue, Earnings Fell About 40% in December, WSJ Says, John Malone andCharter Directors Agree to $87.5 Million Settlement, China E-Commerce Giant JD Set for $1.4 Billion Discount Spree, Between Rounds of Golf, Trumps Searching for the Perfect DeSantis Diss, Your Saturday UK Briefing: Sunak Chalks Up a Win as the Budget Looms, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, Tom Sizemore, 'Saving Private Ryan' Actor, Dies at 61, The Exhibit Reality TV Show PittingArtist Against ArtistIs No Masterpiece. NEW YORK, Feb 15 (Reuters Breakingviews) - Jane Frasers $22.5 million package for running Citigroup (C.N) embodies a Wall Street pay gap. 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. 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. Fraser was Citi's. 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. Jane Fraser addresses Brazil-US Business Council forum in Washington, DC in March 2019. 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. | 2 p.m. JPMorgan Chase & Cohead Jamie Dimon is receiving $34.5 million for 2021. - 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. 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. Her remarkable achievements have earned her some luxurious lifestyles and some fancy car trips. ; 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 . Fraser has since set about selling Citis retail banking businesses outside the United States, including its Mexican franchise, Citibanamex. 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. But both its revenue and its earnings were lower than a year earlier, as credit card users reduced their activity. 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. This website follows the DNPA Code of Ethics Copyright NDTV Convergence Limited 2023. Thorough reviews have been conducted to assure this data accurately reflects disclosures. 54, was granted stock awards totaling about $14.82 million, a cash bonus of $6.35 million and a $1. She also received $16,800 in other forms of compensation. Fraser's compensation includes a $1.3 million cash. Thorough reviews have been conducted to assure this data accurately reflects disclosures. Will Others Follow? John Foley for Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Not the one that runs along gender lines though Fraser does get a third less than her male peers. Coronavirus Tips Working and Protection. For its 2021 fiscal year, CITIGROUP INC, listed the following board members on its annual proxy statement to the SEC. Citigroup's Jane Fraser Will Be The First Female CEO Of A - Forbes Citi on LinkedIn: Citi CEO Jane Fraser shares her perspective on Jane Fraser net worth is estimated at around $25 million. Since Fraser took over the reins at Citi (. Citigroup Inc. paid new Chief Executive Jane Fraser $22.5 million for her first year on the job. Ms. Fraser received a $1.5 million salary and a $3.45 million cash bonus, according to a. 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.

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