jane fraser citi salary jane fraser citi salary

- 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. Want to share a company announcement with your peers? Morgan Stanley shares were up around 25% over the same time. 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. .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}Sign In, Copyright 2023 Dow Jones & Company, Inc. 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. Opinions expressed are those of the author. Morgan Stanley shares were up around 25% over the same time. But on Wall Street, she is a poor cousin. The PSUs value varies based on the banks return on tangible common equity and tangible book value per share over three years. Jane Fraser, Chief Executive Officer, Citi. Bank of America boss Brian Moynihan is in line for $32 million. On the surface, Citis performance explains the difference. 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 its 2021 fiscal year, CITIGROUP INC, listed the following board members on its annual proxy statement to the SEC. In a chefs kiss of pay excess, Dimon and Solomon each got retention bonuses of around $50 million. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Far better than ending up as a troubled bank with a demotivated leader. Jane Fraser net worth is estimated at around $25 million. Since Fraser took over the reins at Citi (. 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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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). 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. The compensation committee took into account the company's return of almost $12B in capital to its common shareholders, growth of its book value per share of 7% to $92.21, and CET1 capital ratio of 12.3%. The $1.33M base salary is consistent with the annualized rate of $1.5M for the 10. Jennifer Surane. But Fraser starts off on the back foot, thanks to years of value destruction under predecessor Mike Corbat. "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. You may also find the annual proxy statement by going directly to the company's website. Before joining Citi, Jane was a Partner at McKinsey & Company. Mr. Our Standards: The Thomson Reuters Trust Principles. 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. It was a Friday. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. See here for a complete list of exchanges and delays. 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. Type a symbol or company name. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Incentives matter too. This report is not for commercial use. 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. Citi picks Jane Fraser as next CEO first woman to lead the bank. articles a month for anyone to read, even non-subscribers! David Westin speaks with top names in finance about the week's biggest issues on Wall Street. Dive Brief: Citi paid CEO Jane Fraser $22.5 million for 2021, the bank revealed in a filing Monday. . Topics include: Commercial banking, payments, technology, risk, regulations, policy, Topics covered: bank/fintech relationship, banks buying fintechs, regulation, risk of neobanks and much more. Thorough reviews have been conducted to assure this data accurately reflects disclosures. But both its revenue and its earnings were lower than a year earlier, as credit card users reduced their activity. She worked as a Goldman Sachs analyst after receiving her degree in economics at Cambridge.. Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. Prior, Jane was the Global Head of Strategy and Mergers & Acquisitions for Citi from 2007 to 2009. 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. See here for a complete list of exchanges and delays. , 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 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. 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. Incentives matter too. 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 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. Written by 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). The "global . (The author is a Reuters Breakingviews columnist. Ms. Fraser's predecessor, Michael Corbat, was paid $19.04 million by Citigroup in 2020. All quotes delayed a minimum of 15 minutes. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Fraser formally took the helm at Citi last February after being named as Mike Corbat's successor in 2020. The industry leader for online information for tax, accounting and finance professionals. 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, the news and media division of Thomson Reuters, is the worlds largest international multimedia news provider reaching more than one billion people every day. 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. But on Wall Street, she is a poor cousin. 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. Citi veteran Jane Fraser has been named Michael Corbat's successor. On the surface, Citis performance explains the difference. Citigroup Inc. paid new Chief Executive Jane Fraser $22.5 million for her first year on the job. CEO compensation has risen steadily since the late 1970s. 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. Subscribe to Banking Dive for top news, trends & analysis. Thorough reviews have been conducted to assure this data accurately reflects disclosures. 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. The industry leader for online information for tax, accounting and finance professionals. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. As CEO at CITIGROUP INC, Jane Fraser made $20,541,324 in total compensation. Citi paid CEO Jane Fraser $24.5 million for 2022, an 8.9% increase over the $22.5 million she made the previous year, according to a filing the bank made Tuesday with the Securities and Exchange Commission. NEW YORK, Feb 15 (Reuters Breakingviews) - Jane Frasers $22.5 million package for running Citigroup (C.N) embodies a Wall Street pay gap. 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. However, women make 99% of what men do when they're given the same titles and have similar levels of experience, Citi said. Not the one that runs along gender lines though Fraser does get a third less than her male peers. Frasers compensation is less than that previously announced for more experienced CEOs of other big banks, which are more profitable. While Chiefs at other big banks, including Goldman and Morgan Stanley, took a pay cut, Citigroup Inc paid Chief Executive Jane Fraser $24.5. CITIGROUP INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. 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. American Airlines and its flight attendants union on Friday jointly applied for federal mediation in contract negotiations. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. This information is according to proxy statements filed for the 2021 fiscal year. Ms. Fraser received a $1.5 million salary and a $3.45 million cash bonus, according to a. - 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. Thats up from 35% last year. On her first day as CEO, she pledged that the bank would achieve net-zero greenhouse-gas emissionsin its financing activities by 2050. That could fuel analysts questions at TDs earnings call Thursday. Its the only big U.S. bank stock that fell between Feb. 26, when Fraser took over, and the year end. 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. Fraser, 54, comes to the role of CEO armed with a resume straight out of Wall Street central casting. But Frasers firm is less efficient, slower-growing and earns a lower return on equity. 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. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. | 1 p.m. For its 2021 fiscal year, CITIGROUP INC, listed the following CEO pay ratio data on its annual proxy statement to the SEC. The estimated Net Worth of Jane Nind Fraser is at least $25 Million dollars as of 27 February 2018. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Type a symbol or company name. Fraser's rise is the result of a multiyear effort at Citi, the $74. 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. 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. (Source: @Citi) By 2019, she is said to have received $17.3 million in total remuneration. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. 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. 2023 NYP Holdings, Inc. All Rights Reserved, Citi hikes pay for junior bankers despite Wall Street layoffs: report, Goldman Sachs may slash bonuses for 3,000 investment bankers by 40%: report, Risk of a US recession now approaching 50%: Citigroup analysis, Goldman Sachs to give senior bankers unlimited vacation to rest and recharge: report. 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. She joined Citi in 2004 in the Corporate and Investment Banking division. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. I vividly remember March 6 last year. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. This report is not for commercial use. 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? 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. Citigroup (NYSE: C) CEO Jane Fraser gets total compensation of $22.5M for 2021, the company said in a filing. Fraser's compensation includes a $1.3 million cash. All quotes delayed a minimum of 15 minutes. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. But Frasers firm is less efficient, slower-growing and earns a lower return on equity. 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. She has been tasked with simplifying the banks structure and getting its profitability on par with rivals. See here for a complete list of exchanges and delays. All proxy statements are public filings made available to the general public by the SEC. Citigroup directors citedFrasers ability to establish a clear set of priorities aimed at increasing long-term shareholder value among the reasons behind the compensation. 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. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. 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. Citigroup Inc. paid new Chief Executive Jane Fraser $22.5 million for her first year on the job. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Educated at Girton College, Cambridge, and Harvard Business School, she was a partner at McKinsey & Company for 10 years before joining Citigroup in 2004. 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. For non-personal use or to order multiple copies, please contact | 2 p.m. 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. 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. 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Ms. Fraser, who became chief executive on March 1, 2021, was given a salary of $1.33 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. As data privacy regulations around the Latest Update on the Future of Work at Citi. 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