jane fraser citi salary jane fraser citi salary

The estimated Net Worth of Jane Nind Fraser is at least $25 Million dollars as of 27 February 2018. 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). Bank of America boss Brian Moynihan is in line for $32 million. Musk Made a Mess at Twitter. 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. Coronavirus Tips Working and Protection. Fraser formally took the helm at Citi last February after being named as Mike Corbat's successor in 2020. 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. 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. That could fuel analysts questions at TDs earnings call Thursday. Jane Fraser addresses Brazil-US Business Council forum in Washington, DC in March 2019. 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. 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%. Will Others Follow? Thorough reviews have been conducted to assure this data accurately reflects disclosures. Fraser has since set about selling Citis retail banking businesses outside the United States, including its Mexican franchise, Citibanamex. 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. 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. Mr. 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? read more. To any normal human, Fraser makes out like a bandit, getting 350 times more than the average New York City household. Dive Brief: Citi paid CEO Jane Fraser $22.5 million for 2021, the bank revealed in a filing Monday. Frasers compensation is less than that previously announced for more experienced CEOs of other big banks, which are more profitable. . You may also find the annual proxy statement by going directly to the company's website. On her first day as CEO, she pledged that the bank would achieve net-zero greenhouse-gas emissionsin its financing activities by 2050. Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. 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. Citigroup Inc. paid new Chief Executive Jane Fraser $22.5 million for her first year on the job. 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. Type a symbol or company name. While Chiefs at other big banks, including Goldman and Morgan Stanley, took a pay cut, Citigroup Inc paid Chief Executive Jane Fraser $24.5. 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Continue reading your article witha WSJ subscription, Already a member? That was when it really hit me that . All quotes delayed a minimum of 15 minutes. 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. Our Standards: The Thomson Reuters Trust Principles. The information shown here is a reporting of information included in the company's proxy statement. Citigroup directors citedFrasers 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 officially took over at Citi on Feb. 26, replacing Mike Corbat, who earned $23 million in his final full year. NEW YORK, Feb 15 (Reuters Breakingviews) - Jane Frasers $22.5 million package for running Citigroup (C.N) embodies a Wall Street pay gap. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Citis closest peer is JPMorgan, whose share return isnt meaningfully different. See here for a complete list of exchanges and delays. 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. Its the only big U.S. bank stock that fell between Feb. 26, when Fraser took over, and the year end. Jane Fraser net worth is estimated at around $25 million. Feb. 28. Thanks for contacting us. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. Bank of America boss Brian Moynihan is in line for $32 million. If those targets are tough, setting pay in line with peers is therefore less like rewarding failure, and more like incentivizing competition. 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But Frasers firm is less efficient, slower-growing and earns a lower return on equity. But Frasers firm is less efficient, slower-growing and earns a lower return on equity. Citigroup Inc. paid new Chief Executive Jane Fraser $22.5 million for her first year on the job. This information is according to proxy statements filed for the 2021 fiscal year. . These symbols will be available throughout the site during your session. 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. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. But both its revenue and its earnings were lower than a year earlier, as credit card users reduced their activity. It was a Friday. However, women make 99% of what men do when they're given the same titles and have similar levels of experience, Citi said. Citigroup reported a 21% decline in fourth-quarter profit in January 2022, which missed forecasts. This copy is for your personal, non-commercial use only. Far better than ending up as a troubled bank with a demotivated leader. The PSUs value varies based on the banks return on tangible common equity and tangible book value per share over three years. .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}Sign In, Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. 54, was granted stock awards totaling about $14.82 million, a cash bonus of $6.35 million and a $1. We've received your submission. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. 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. 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 most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. 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. She took over as the first female chief executive of a major Wall Street bank in February 2021. John Foley for You may also find the annual proxy statement by going directly to the company's website. JPMorgans Jamie Dimon and Bank of Americas Brian Moynihan were a whisker behind, at $34.5 million and $32 million, respectively. 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. , 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 As CEO at CITIGROUP INC, Jane Fraser made $20,541,324 in total compensation. 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). 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 industry leader for online information for tax, accounting and finance professionals. Fraser was Citis president and head of the consumer business for the 2020 pay period. 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. 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. 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. In a regulatory filing on Tuesday, Citi said Fraser's pay consisted of a $1.5mn base salary and a $23mn bonus paid in a mix of cash, deferred stock and performance share units. 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. CITIGROUP INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. The majority of her pay$14.82 million in restricted stock tied to performance metricsis in restricted stock. Jane Fraser, Citigroup's incoming CEO, announced a new accountability-focused team on Tuesday. 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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. ; 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 . Ms Fraser's total pay in 2021 was $22.5 million. 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. Copy and paste multiple symbols separated by spaces. As data privacy regulations around the If a company isnt doing well, its board and investors should want the best person to clean it up. 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. 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. Our Standards: The Thomson Reuters Trust Principles. Incentives matter too. But Fraser starts off on the back foot, thanks to years of value destruction under predecessor Mike Corbat. 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. In its filing Monday, Citi's compensation committee lauded Fraser's quick work in setting priorities for the bank. As data privacy regulations around the The information shown here is a reporting of information included in the company's proxy statement. 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. For its 2021 fiscal year, CITIGROUP INC, listed the following CEO pay ratio data on its annual proxy statement to the SEC. 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. Citi picks Jane Fraser as next CEO first woman to lead the bank. 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. American Airlines and its flight attendants union on Friday jointly applied for federal mediation in contract negotiations. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. 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. 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. All proxy statements are public filings made available to the general public by the SEC. CITIGROUP INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Female employees at the bank made 26% less than male employees as of January 2021, Sara Wechter, Citi's head of human resources, wrote in a blog post. - 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. 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. 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. The industry leader for online information for tax, accounting and finance professionals. Get started Jane Fraser's picture. As CEO at CITIGROUP INC, Jane Fraser made $20,541,324 in total compensation. Ms. Fraser received a $1.5 million salary and a $3.45 million cash bonus, according to a. 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. That's down from 29% in the first year Citi reported the figures. Please. Opinions expressed are those of the author. 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. The chart on this page features a breakdown of the total annual pay for Jane Fraser, CEO at CITIGROUP INC as reported in their proxy statements. Ms Fraser's total pay in 2021 was $22.5 million. 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. Latest Update on the Future of Work at Citi. From 2009 to 2013, Jane served as the Chief Executive Officer of Citi's Global Private Bank. Far better than ending up as a troubled bank with a demotivated leader. 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. 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.