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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. Before joining Citi, Jane was a Partner at McKinsey & Company. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. . 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. See here for a complete list of exchanges and delays. This copy is for your personal, non-commercial use only. 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. 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. JPMorgan Chase & Cohead Jamie Dimon is receiving $34.5 million for 2021. 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. 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. Ms. Fraser received a $1.5 million salary and a $3.45 million cash bonus, according to a. 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. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Jane Fraser's salary per month and other career earnings are over $1.2 million dollars annually. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. The estimated Net Worth of Jane Nind Fraser is at least $25 Million dollars as of 27 February 2018. 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. 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. You may also find the annual proxy statement by going directly to the company's website. 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. 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. Ms Fraser's total pay in 2021 was $22.5 million. https://www.wsj.com/articles/citigroups-jane-fraser-gets-22-5-million-for-first-year-as-ceo-11644877691. Thanks for contacting us. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. But on Wall Street, she is a poor cousin. She worked as a Goldman Sachs analyst after receiving her degree in economics at Cambridge.. Subscribe to Banking Dive for top news, trends & analysis. Citis closest peer is JPMorgan, whose share return isnt meaningfully different. - 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 information shown here is a reporting of information included in the company's proxy statement. Her remarkable achievements have earned her some luxurious lifestyles and some fancy car trips. Its the only big U.S. bank stock that fell between Feb. 26, when Fraser took over, and the year end. our Subscriber Agreement and by copyright law. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. - 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. She also received $16,800 in other forms of compensation. 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. 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. 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. Jane Fraser talks about the critical role of cross-border data in growing Citi's revenues and future business strategy. Let Banking Dive's free newsletter keep you informed, straight from your inbox. This report is not for commercial use. 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. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. 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. - 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. 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. 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. 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. Our Standards: The Thomson Reuters Trust Principles. CONTEXT NEWS. 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. (The author is a Reuters Breakingviews columnist. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. ET, First Horizon warns TD deal may be in limbo, Citi to cut hundreds of investment banking, mortgage, tech jobs: reports, Senators urge Fed, OCC, FDIC and NCUA to keep close eye on Zelle, JPMorgan decries fishing expedition in Epstein case, How Banks are Better Navigating Industry Changes, Winning banking customer service in the COVID era, The rise of imitation banks may lead to regulatory scrutiny, Crypto Companies Behind Tether Used Falsified Documents and Shell Companies to Get Bank Accounts, N26 head of risk quits in escalating leadership crisis, How to Deliver Cost Savings While Improving Service in the Banking World, 2023 Economic Insight & Best Practices in Financial Risk Management, How to Decrease Errors & Fraud in Financial Institutions, Protecting your Financial Institution from Mobile Fraud Schemes in 2023, First Fidelity Bank enters BaaS space with Episode Six partnership, Ohio bank reaches $9M redlining settlement with DOJ, Goldman pins its hopes on asset and wealth management, While her compensation ranks well below industry leaders the CEOs of, Frasers $22.5 million for 2021 is also 18.2% more than the. Manish Sisodia's Custody Extended, CBI Told Not To Repeat Questions, In Karnataka, Arvind Kejriwal Twist To BJP's "Double-Engine Government", Flu Cases With Severe Symptoms Rise, Centre Issues Advisory: 10 Facts, "Grateful Adani Group Has Shown Faith In Australia": Ex PM Tony Abbott, "I Gave Up": Shark Tank Judge Namita Thapar Reveals Her Struggles With IVF, Here's How To Avoid Covid-Like Flu Sweeping Across India, "World's 1st" Bamboo Crash Barrier Installed In Maharashtra: Nitin Gadkari, Influencer Andrew Tate, Facing Human Trafficking Charges, Has Lung Cancer, Rajya Sabha MP Kapil Sibal Announces Platform To Fight Injustice. 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. Thorough reviews have been conducted to assure this data accurately reflects disclosures. Bank of America boss Brian Moynihan is in line for $32 million. It was a Friday. Its the only big U.S. bank stock that fell between Feb. 26, when Fraser took over, and the year end. These symbols will be available throughout the site during your session. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Fraser's compensation includes a $1.3 million cash. Fraser has since set about selling Citis retail banking businesses outside the United States, including its Mexican franchise, Citibanamex. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Type a symbol or company name. See here for a complete list of exchanges and delays. 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. 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. Her route to being the first woman to head a top 5 U.S. bank included stops at Goldman and McKinsey. Incentives matter too. Citigroup (NYSE: C) CEO Jane Fraser gets total compensation of $22.5M for 2021, the company said in a filing. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. - 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. All proxy statements are public filings made available to the general public by the SEC. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. She's the only CEO of a top-six U.S. bank to receive a raise last year. 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. ; 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 . 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. The Scottish-born Fraser has been with Citi since 2004 and currently oversees the banks massive global consumer banking operation. ET, Presented by studioID and Dun and Bradstreet, Webinar Citigroup directors citedFrasers ability to establish a clear set of priorities aimed at increasing long-term shareholder value among the reasons behind the compensation. Fraser's rise is the result of a multiyear effort at Citi, the $74. This website follows the DNPA Code of Ethics Copyright NDTV Convergence Limited 2023. Fraser has since set about selling Citis retail banking businesses outside the United States, including its Mexican franchise, Citibanamex. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. CEO compensation has risen steadily since the late 1970s. 54, was granted stock awards totaling about $14.82 million, a cash bonus of $6.35 million and a $1. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. 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