jane fraser citi salary jane fraser citi salary

https://www.wsj.com/articles/citigroups-jane-fraser-gets-22-5-million-for-first-year-as-ceo-11644877691. Thanks for contacting us. 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 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 From 2009 to 2013, Jane served as the Chief Executive Officer of Citi's Global Private Bank. 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. Citi veteran Jane Fraser has been named Michael Corbat's successor. Want to share a company announcement with your peers? 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On her first day as CEO, she pledged that the bank would achieve net-zero greenhouse-gas emissionsin its financing activities by 2050. Let Banking Dive's free newsletter keep you informed, straight from your inbox. 54, was granted stock awards totaling about $14.82 million, a cash bonus of $6.35 million and a $1. 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. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. 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. 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. Type a symbol or company name. Mike Corbat, Citigroup's chief executive, was paid $24m last year. 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. 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Not the one that runs along gender lines though Fraser does get a third less than her male peers. As data privacy regulations around the .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}Sign In, Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Ms Fraser's total pay in 2021 was $22.5 million. All proxy statements are public filings made available to the general public by the SEC. Shes the first female CEO of a major US bank. Create your Watchlist to save your favorite quotes on Nasdaq.com. Incentives matter too. 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. As CEO at CITIGROUP INC, Jane Fraser made $20,541,324 in total compensation. 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. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. 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 directors citedFrasers ability to establish a clear set of priorities aimed at increasing long-term shareholder value among the reasons behind the compensation. 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. John Foley for 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. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Amazon Pauses Construction on Second Headquarters in Virginia as It Cuts Jobs, Amazon Is Closing Its Cashierless Stores in NYC, San Francisco and Seattle, iPhone Maker Plans $700 Million India Plant in Shift From China, Stock Traders Are Ignoring Blaring Bond Alarms, S&P 500 Notches Best Week Since Late January: Markets Wrap. - 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. 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. Fraser was Citis president and head of the consumer business for the 2020 pay period. Citis closest peer is JPMorgan, whose share return isnt meaningfully different. That was when it really hit me that . The information shown here is a reporting of information included in the company's proxy statement. 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. 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. In its filing Monday, Citi's compensation committee lauded Fraser's quick work in setting priorities for the bank. - Fraser officially took over at Citi on Feb. 26, replacing Mike Corbat, who earned $23 million in his final full year. Get the free daily newsletter read by industry experts. But Fraser starts off on the back foot, thanks to years of value destruction under predecessor Mike Corbat. The industry leader for online information for tax, accounting and finance professionals. Bank of America boss Brian Moynihan is in line for $32 million. 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. 50% off + free delivery on any order with DoorDash promo code, 60% off running shoes and apparel at Nike without a promo code, Score up to 50% off Nintendo Switch video games with GameStop coupon code. Our Standards: The Thomson Reuters Trust Principles. Jane Fraser, Chief Executive Officer, Citi. The "global . She joined Citi in 2004 in the Corporate and Investment Banking division. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. (Editing by Lauren Silva Laughlin and Sharon Lam). Since Fraser took over the reins at Citi (. our Subscriber Agreement and by copyright law. 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. As data privacy regulations around the See here for a complete list of exchanges and delays. For its 2021 fiscal year, CITIGROUP INC, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Morgan Stanley shares were up around 25% over the same time. 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 $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. 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. Rather, Citi typifies the habit of paying bosses of high-performing banks much more than poorly performing ones. In a chefs kiss of pay excess, Dimon and Solomon each got retention bonuses of around $50 million. Incentives matter too. California Weighs $360,000 in Reparations to Eligible Black Residents. . All quotes delayed a minimum of 15 minutes. In her first year as CEO, Jane Fraser quickly set to work on a strategic refresh and announced plans to shed consumer banking assets around the globe. In a chefs kiss of pay excess, Dimon and Solomon each got retention bonuses of around $50 million. Will His AI Plans Be Any Different? 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. This information is according to proxy statements filed for the 2021 fiscal year. The opinions expressed are his own.). Latest Update on the Future of Work at Citi. These symbols will be available throughout the site during your session. - 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. 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. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. 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. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. 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. Thats less sensible than it sounds. This website follows the DNPA Code of Ethics Copyright NDTV Convergence Limited 2023. This report is not for commercial use. Its the only big U.S. bank stock that fell between Feb. 26, when Fraser took over, and the year end. Opinions expressed are those of the author. Dive Brief: Citi paid CEO Jane Fraser $22.5 million for 2021, the bank revealed in a filing Monday. . 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. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Feb. 28. 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. As CEO at CITIGROUP INC, Jane Fraser made $20,541,324 in total compensation. She has been tasked with simplifying the bank's structure and getting its profitability on par with rivals. All rights reserved. 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. 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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. Will Others Follow? Jennifer Surane. That's down from 29% in the first year Citi reported the figures. 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. JPMorgan trades at 1.8 times its book value; Citis valuation is less than half that. Citigroup Inc. paid new Chief Executive Jane Fraser $22.5 million for her first year on the job. 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. This report is not for commercial use. 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 officially took over at Citi on Feb. 26, replacing Mike Corbat, who earned $23 million in his final full year. Thats less sensible than it sounds. Citis closest peer is JPMorgan, whose share return isnt meaningfully different. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. However, women make 99% of what men do when they're given the same titles and have similar levels of experience, Citi said. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. CONTEXT NEWS. Jane Fraser's picture. CEO compensation has risen steadily since the late 1970s. The bulk of her compensation$14.82 millionis in restricted stock tied to performance metrics. Please. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Please disable your ad-blocker and refresh. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. She is the. Jane Fraser, Citigroup's incoming CEO, announced a new accountability-focused team on Tuesday. - 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. Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. Citigroup Inc. paid new Chief Executive Jane Fraser $22.5 million for her first year on the job. The Tennessee bank, in a filing Wednesday, said TD does not expect regulatory approval by the deal's May 27 extended deadline. On the surface, Citis performance explains the difference. 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). 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. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. If you have an ad-blocker enabled you may be blocked from proceeding. Our Standards: The Thomson Reuters Trust Principles. Ms. Fraser's predecessor, Michael Corbat, was paid $19.04 million by Citigroup in 2020. Morgan Stanleys James Gorman and Goldman Sachss David Solomon were paid $35 million each for their work last year. ; 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 . Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. American Airlines and its flight attendants union on Friday jointly applied for federal mediation in contract negotiations. . For its 2021 fiscal year, CITIGROUP INC, listed the following board members on its annual proxy statement to the SEC. 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. 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. 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. Educated at Girton College, Cambridge, and Harvard Business School, she was a partner at McKinsey & Company for 10 years before joining Citigroup in 2004. Jane Fraser talks about the critical role of cross-border data in growing Citi's revenues and future business strategy. Fraser has since set about selling Citis retail banking businesses outside the United States, including its Mexican franchise, Citibanamex. 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. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. All quotes delayed a minimum of 15 minutes. To any normal human, Fraser makes out like a bandit, getting 350 times more than the average New York City household. 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. (The author is a Reuters Breakingviews columnist. Jane Fraser's promotion as the incoming CEO of Citigroup will make her the first woman to head a major Wall Street bank. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Fraser's compensation includes a $1.3 . Jane Fraser's salary per month and other career earnings are over $1.2 million dollars annually. Jane Fraser addresses Brazil-US Business Council forum in Washington, DC in March 2019. 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. While Chiefs at other big banks, including Goldman and Morgan Stanley, took a pay cut, Citigroup Inc paid Chief Executive Jane Fraser $24.5. 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. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. 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. This copy is for your personal, non-commercial use only. 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. During her 18-year career at Citi, Jane has held leadership roles across Citi's consumer and institutional businesses. Track Latest News and Election Results Coverage Live on NDTV.com and get news updates from India and around the world. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Get started She's the only CEO of a top-six U.S. bank to receive a raise last year. Citigroup Inc. paid Chief Executive Jane Fraser $24.5 million for 2022, up 9% from the prior 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. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 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. Far better than ending up as a troubled bank with a demotivated leader. The $1.33M base salary is consistent with the annualized rate of $1.5M for the 10. 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). You may also find the annual proxy statement by going directly to the company's website. Type a symbol or company name. But Frasers firm is less efficient, slower-growing and earns a lower return on equity. 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. ET, Presented by studioID and Dun and Bradstreet, Webinar The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. 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