Ms Fraser's total pay in 2021 was $22.5 million. Tony Marinella on LinkedIn: Citi on LinkedIn: CEO Jane Fraser | CNBC Citi on LinkedIn: Citi CEO Jane Fraser shares her perspective on Leadership Team - Jane Fraser | Citi (Editing by Lauren Silva Laughlin and Sharon Lam). She has been CEO of four Citi units and presently heads up a fifth and the largest, the Global Consumer Bank and is President of the entire company. 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. While Other Bank CEOs Take Pay Cuts, Citigroup's CEO Jane Fraser Gets a our Subscriber Agreement and by copyright law. 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. 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. You may also find the annual proxy statement by going directly to the company's website. "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. Citigroup raises Fraser's pay by 32% after appointing her as CEO 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. Citigroup's Jane Fraser Will Be The First Female CEO Of A - Forbes - 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. But Fraser starts off on the back foot, thanks to years of value destruction under predecessor Mike Corbat. Musk Made a Mess at Twitter. For its 2021 fiscal year, CITIGROUP INC, listed the following CEO pay ratio data on its annual proxy statement to the SEC. 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. 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. | 2 p.m. That's down from 29% in the first year Citi reported the figures. In January, Citi reported a profit of $4.6 billion on revenue of $16.5 billion. The estimated Net Worth of Jane Nind Fraser is at least $25 Million dollars as of 27 February 2018. Goldman Sachs Group IncCEO David Solomon and Morgan StanleyCEO James Gorman are both getting $35 million, while Brian Moynihan, CEO of Bank of America Corp, is receiving $32 million. 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. 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. Citigroup (NYSE: C) CEO Jane Fraser gets total compensation of $22.5M for 2021, the company said in a filing. 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. On her first day as CEO, she pledged that the bank would achieve net-zero greenhouse-gas emissionsin its financing activities by 2050. Thorough reviews have been conducted to assure this data accurately reflects disclosures. Citigroup (C) Awards CEO Jane Fraser $22.5 Million for 2021 - Bloomberg.com The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. She worked as a Goldman Sachs analyst after receiving her degree in economics at Cambridge.. read more. Reuters->. 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 Scottish-born Fraser has been with Citi since 2004 and currently oversees the banks massive global consumer banking operation. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. While Chiefs at other big banks, including Goldman and Morgan Stanley, took a pay cut, Citigroup Inc paid Chief Executive Jane Fraser $24.5. Type a symbol or company name. Ms Fraser's total pay in 2021 was $22.5 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. Thanks for contacting us. 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. (The author is a Reuters Breakingviews columnist. 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 veteran Jane Fraser has been named Michael Corbat's successor. This information is according to proxy statements filed for the 2021 fiscal year. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Fraser formally took the helm at Citi last February after being named as Mike Corbat's successor in 2020. 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. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. To any normal human, Fraser makes out like a bandit, getting 350 times more than the average New York City household. Citigroup directors citedFrasers ability to establish a clear set of priorities aimed at increasing long-term shareholder value among the reasons behind the compensation. 54, was granted stock awards totaling about $14.82 million, a cash bonus of $6.35 million and a $1. Fraserwas paid $17.1 million for 2020. 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. 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. Jane Fraser talks about the critical role of cross-border data in growing Citi's revenues and future business strategy. Opinions expressed are those of the author. 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. In its filing Monday, Citi's compensation committee lauded Fraser's quick work in setting priorities for the bank. For its 2021 fiscal year, CITIGROUP INC, listed the following board members on its annual proxy statement to the SEC. .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}Sign In, Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Citigroup CEO Jane Fraser to get $22.5 million payday - New York Post Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. 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. 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 most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. 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. Citi's Jane Fraser, the First Female CEO of a Major U.S. Bank, Gets $22.5 Million for 2021 . Jane Fraser on Rethinking Citigroup's Mission, Inclusivity | TIME 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 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. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. Ms Fraser's total pay in 2021 was $22.5 million. Her route to being the first woman to head a top 5 U.S. bank included stops at Goldman and McKinsey. 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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 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. 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). Mike Corbat, Citigroup's chief executive, was paid $24m last year. Fraser, 54, comes to the role of CEO armed with a resume straight out of Wall Street central casting. Jane Fraser - Net Worth 2021, Salary, Age, Height, Bio, Family, Career. 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. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. 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 took over as the first female chief executive of a major Wall Street bank in February 2021. Rather, Citi typifies the habit of paying bosses of high-performing banks much more than poorly performing ones. Citigroup Inc. paid new Chief Executive Jane Fraser $22.5 million for her first year on the job. That was when it really hit me that . JPMorgan trades at 1.8 times its book value; Citis valuation is less than half that. | 1 p.m. Citigroup's Jane Fraser is doing the unthinkable on Wall Street - CNN John Foley for All rights reserved. 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. 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. Compensation Information for Jane Fraser, CEO of CITIGROUP INC - Salary.com Our Standards: The Thomson Reuters Trust Principles. 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. Jane Fraser Net Worth (2022) | wallmine Citi pays Fraser $22.5M in her first year as CEO | Banking Dive The opinions expressed are his own.). Fraser has since set about selling Citis retail banking businesses outside the United States, including its Mexican franchise, Citibanamex. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. The PSUs value varies based on the banks return on tangible common equity and tangible book value per share over three years. She received a salary of $500,000, a bonus of $4,801,276 and stock awards of $11,995,705. Jane Fraser - CEO - Citi | LinkedIn As CEO at CITIGROUP INC, Jane Fraser made $20,541,324 in total compensation. NEW YORK, Feb 15 (Reuters Breakingviews) - Jane Frasers $22.5 million package for running Citigroup (C.N) embodies a Wall Street pay gap. 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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. She joined Citi in 2004 in the Corporate and Investment Banking division. Jane Fraser's salary per month and other career earnings are over $1.2 million dollars annually. Bank of America boss Brian Moynihan is in line for $32 million. 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. But on Wall Street, she is a poor cousin. Jane Fraser addresses Brazil-US Business Council forum in Washington, DC in March 2019. 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. March 24, 2021. 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. That could fuel analysts questions at TDs earnings call Thursday. Ms. Fraser's predecessor, Michael Corbat, was paid $19.04 million by Citigroup in 2020. See here for a complete list of exchanges and delays. Not the one that runs along gender lines though Fraser does get a third less than her male peers. She has been tasked with simplifying the banks structure and getting its profitability on par with rivals. Shes the first female CEO of a major US bank. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Prior, Jane was the Global Head of Strategy and Mergers & Acquisitions for Citi from 2007 to 2009. Fraser's rise is the result of a multiyear effort at Citi, the $74. . 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. - 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. Crain's Extra: Citigroup CEO Jane Fraser needs vassals to support her Get the free daily newsletter read by industry experts. The industry leader for online information for tax, accounting and finance professionals. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. This copy is for your personal, non-commercial use only.
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