jane fraser citi salary jane fraser citi salary

Ms Fraser's total pay in 2021 was $22.5 million. Want to share a company announcement with your peers? 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). , 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 Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Is this happening to you frequently? Jane Fraser's salary per month and other career earnings are over $1.2 million dollars annually. 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. This website follows the DNPA Code of Ethics Copyright NDTV Convergence Limited 2023. 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. 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. - 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. For its 2021 fiscal year, CITIGROUP INC, listed the following CEO pay ratio data on its annual proxy statement to the SEC. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. Mr. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Bank of America boss Brian Moynihan is in line for $32 million. 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. CITIGROUP INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. 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. 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. 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. All proxy statements are public filings made available to the general public by the SEC. But Fraser starts off on the back foot, thanks to years of value destruction under predecessor Mike Corbat. 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. Citigroup reported a 21% decline in fourth-quarter profit in January 2022, which missed forecasts. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. (Source: @Citi) By 2019, she is said to have received $17.3 million in total remuneration. Jane Fraser, Citigroup's incoming CEO, announced a new accountability-focused team on Tuesday. | 2 p.m. See here for a complete list of exchanges and delays. CITIGROUP INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. 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. The majority of her pay$14.82 million in restricted stock tied to performance metricsis in restricted stock. Thorough reviews have been conducted to assure this data accurately reflects disclosures. Prior, Jane was the Global Head of Strategy and Mergers & Acquisitions for Citi from 2007 to 2009. The bulk of her compensation$14.82 millionis in restricted stock tied to performance metrics. 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. Please. - 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. On her first day as CEO, she pledged that the bank would achieve net-zero greenhouse-gas emissionsin its financing activities by 2050. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. 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. Dive Brief: Citi paid CEO Jane Fraser $22.5 million for 2021, the bank revealed in a filing Monday. During her 18-year career at Citi, Jane has held leadership roles across Citi's consumer and institutional businesses. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. 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. (The author is a Reuters Breakingviews columnist. 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 board members on its annual proxy statement to the SEC. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. 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. Jane Fraser's picture. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. 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. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. You may also find the annual proxy statement by going directly to the company's website. All proxy statements are public filings made available to the general public by the SEC. 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. See here for a complete list of exchanges and delays. Fraser's compensation is less than that previously announced for more experienced CEOs of other big banks, which are more profitable. Morgan Stanleys James Gorman and Goldman Sachss David Solomon were paid $35 million each for their work last year. articles a month for anyone to read, even non-subscribers! Distribution and use of this material are governed by Frasers compensation is less than that previously announced for more experienced CEOs of other big banks, which are more profitable. She has been tasked with simplifying the banks structure and getting its profitability on par with rivals. Conrad Sangma To Be Sworn In As Meghalaya Chief Minister On March 7. 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. The "global . 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. She's the only CEO of a top-six U.S. bank to receive a raise last year. 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. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. 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. 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. 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. California Weighs $360,000 in Reparations to Eligible Black Residents. Far better than ending up as a troubled bank with a demotivated leader. This information is according to proxy statements filed for the 2021 fiscal year. Ms Fraser received $9.2m in total compensation in 2018, for her work as chief executive of Citi's Latin American operations. This copy is for your personal, non-commercial use only. On the surface, Citis performance explains the difference. 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? For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Musk Made a Mess at Twitter. John Foley for 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Jane Fraser's promotion as the incoming CEO of Citigroup will make her the first woman to head a major Wall Street bank. Analysis: Goldman Sachs faces hard sell for its consumer assets, Ex-Goldman banker Ng deserves 15 years in prison, US prosecutors say, Reporting by David Henry in New York and Sohini Podder in Bengaluru; Editing by Aditya Soni, Silvergate suspends crypto payments network; shares fall after-hours, Bank of Canada to hold rates steady at 4.50% through this year, How China's new No.2 hastened the end of Xi's zero-COVID policy, Analysis: US Republicans aim to stymie gun sale codes at state level, American Airlines, flight attendants union seek mediation in contract negotiations, Argentina melts in late-summer heat wave as records tumble, As space junk threat grows, government and investors seek solutions, Indonesian officials call for audit after Pertamina fire kills 15, Brazil's Petrobras faces legal risks after halting asset sales -lawyers, Exclusive news, data and analytics for financial market professionals. Citi's Jane Fraser, the First Female CEO of a Major U.S. Bank, Gets $22.5 Million for 2021 . Jennifer Surane. 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. 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. JPMorgan trades at 1.8 times its book value; Citis valuation is less than half that. CITIGROUP INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. 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. This report is not for commercial use. She took over as the first female chief executive of a major Wall Street bank in February 2021. (Editing by Lauren Silva Laughlin and Sharon Lam). 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. 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. 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 Track Latest News and Election Results Coverage Live on NDTV.com and get news updates from India and around the world. 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. 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. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Fraser was Citi's. Its the only big U.S. bank stock that fell between Feb. 26, when Fraser took over, and the year end. ; 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 . In January, Citi reported a profit of $4.6 billion on revenue of $16.5 billion. 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. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. 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. 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. That could fuel analysts questions at TDs earnings call Thursday. Citigroup Inc. paid new Chief Executive Jane Fraser $22.5 million for her first year on the job. Incentives matter too. But Frasers firm is less efficient, slower-growing and earns a lower return on equity. JPMorgan Chase & Co (JPM.N) head Jamie Dimon is receiving $34.5 million for 2021. Fraser was paid $12.5 million last year, according to a company filing, or about half of Corbat's $24 million salary. Follow @johnsfoley https://twitter.com/johnsfoley on Twitter. Half of Frasers non-base-pay compensation derives from the PSUs. Her route to being the first woman to head a top 5 U.S. bank included stops at Goldman and McKinsey. Coronavirus Tips Working and Protection, For its 2021 fiscal year, CITIGROUP INC, listed the following executives on its annual proxy statement to the SEC. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. As data privacy regulations around the 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 has since set about selling Citis retail banking businesses outside the United States, including its Mexican franchise, Citibanamex. Since Fraser took over the reins at Citi (. If those targets are tough, setting pay in line with peers is therefore less like rewarding failure, and more like incentivizing competition. See here for a complete list of exchanges and delays. Please disable your ad-blocker and refresh. our Subscriber Agreement and by copyright law. 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. You may also find the annual proxy statement by going directly to the company's website. Reuters->. 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 . - Fraser officially took over at Citi on Feb. 26, replacing Mike Corbat, who earned $23 million in his final full 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. 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. Her remarkable achievements have earned her some luxurious lifestyles and some fancy car trips. JPMorgan Chase & Cohead Jamie Dimon is receiving $34.5 million for 2021. | 1 p.m. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. NEW YORK, Feb 15 (Reuters Breakingviews) - Jane Frasers $22.5 million package for running Citigroup (C.N) embodies a Wall Street pay gap. She joined Citi in 2004 in the Corporate and Investment Banking division. Not the one that runs along gender lines though Fraser does get a third less than her male peers. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. 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. Citigroup directors citedFrasers ability to establish a clear set of priorities aimed at increasing long-term shareholder value among the reasons behind the compensation. Citis closest peer is JPMorgan, whose share return isnt meaningfully different. Much of the attention surrounding Frasers pay may stem from her gender. 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. The opinions expressed are his own.). 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. 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. Watch: YouTuber Destroys Lamborghini Worth Over Rs 3 Crore Because Citigroup Raises CEO Jane Fraser's Salary To $24.5 Million, US Banking Giants Face Over $1 Billion in Fines Over Unauthorised Email, WhatsApp Use, Citi Trader's Error Wiped Out $315 Billion From Europe Stocks In Minutes, Citi Is Next Among International Banks Scaling Down India Operations, For Rs 24 Lakh A Year, You Can Now Live On A Cruise Ship, UP Man Arrested For Raping Relative, Posting Her Nude Pictures Online, BRS Leader K Kavitha To Hold Protest In Delhi On March 10 To Demand Women's Reservation Bill, WPL Opening Ceremony: Kiara, Kriti, AP Dhillon Set Stage On Fire, Watch: Kiara Advani, Kriti Sanon And AP Dhillon Thrill In WPL 2023 Opening, Watch: Stump Mic Catches Iyer's Hilarious Comment On Head's Stance, WPL Live: Matthews Departs For 47, Mumbai Indians 3 Down vs Gujarat Giants, "Ready To Talk, But": Himanta Sarma To Ex Royal's Party (Tipra Motha), "Forget Bumrah": India Star's Blunt Remark On Pacer's Prolonged Absence, US Politician Under Investigation For "Tax The Rich" Met Gala Dress, Bill Gates "More Optimistic Than Ever" About India After Meet With PM Modi, This website follows the DNPA Code of Ethics. Vroom reports earnings. 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. 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. In a chefs kiss of pay excess, Dimon and Solomon each got retention bonuses of around $50 million. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. That was when it really hit me that . JPMorgans Jamie Dimon and Bank of Americas Brian Moynihan were a whisker behind, at $34.5 million and $32 million, respectively. If you have an ad-blocker enabled you may be blocked from proceeding. . "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. 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. Thats less sensible than it sounds. 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. 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). 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. 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. 54, was granted stock awards totaling about $14.82 million, a cash bonus of $6.35 million and a $1. 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 net worth is estimated at around $25 million. 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. Citis closest peer is JPMorgan, whose share return isnt meaningfully different. Citi picks Jane Fraser as next CEO first woman to lead the bank. That's down from 29% in the first year Citi reported the figures. 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. For its 2021 fiscal year, CITIGROUP INC, listed the following CEO pay ratio data on its annual proxy statement to the SEC. She has been tasked with simplifying the bank's structure and getting its profitability on par with rivals. JPMorgan trades at 1.8 times its book value; Citis valuation is less than half that. Jane Fraser talks about the critical role of cross-border data in growing Citi's revenues and future business strategy. ET, Presented by studioID and Dun and Bradstreet, Webinar Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Fraser was Citis president and head of the consumer business for the 2020 pay period. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. In a chefs kiss of pay excess, Dimon and Solomon each got retention bonuses of around $50 million. The industry leader for online information for tax, accounting and finance professionals. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. She is the. These symbols will be available throughout the site during your session. read more. This report is not for commercial use. Rather, Citi typifies the habit of paying bosses of high-performing banks much more than poorly performing ones. As data privacy regulations around 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.