All proxy statements are public filings made available to the general public by the SEC. 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%. You may also find the annual proxy statement by going directly to the company's website. If you have an ad-blocker enabled you may be blocked from proceeding. JPMorgan trades at 1.8 times its book value; Citis valuation is less than half that. read more. Fraserwas paid $17.1 million for 2020. Fraser was Citis president and head of the consumer business for the 2020 pay period. The industry leader for online information for tax, accounting and finance professionals. On the surface, Citis performance explains the difference. See here for a complete list of exchanges and delays. Half of Frasers non-base-pay compensation derives from the PSUs. See here for a complete list of exchanges and delays. Bank of America boss Brian Moynihan is in line for $32 million. It was a Friday. - 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. 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. 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. While Chiefs at other big banks, including Goldman and Morgan Stanley, took a pay cut, Citigroup Inc paid Chief Executive Jane Fraser $24.5 million for 2022, up 9 per cent from the prior year, reported Wall Street Journal. Opinions expressed are those of the author. 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. 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. - 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. Thanks for contacting us. Fraser's compensation includes a $1.3 . 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. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. As data privacy regulations around the - 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. Type a symbol or company name. Jane Fraser net worth is estimated at around $25 million. All quotes delayed a minimum of 15 minutes. 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. Thats up from 35% last year. But Fraser starts off on the back foot, thanks to years of value destruction under predecessor Mike Corbat. Dive Brief: Citi paid CEO Jane Fraser $22.5 million for 2021, the bank revealed in a filing Monday. Get started 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. Thorough reviews have been conducted to assure this data accurately reflects disclosures. 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. 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. Create your Watchlist to save your favorite quotes on Nasdaq.com. Since Fraser took over the reins at Citi (. Her main source of income is from her primary work as a business executive and CEO. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Before joining Citi, Jane was a Partner at McKinsey & Company. Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. In January, Citi reported a profit of $4.6 billion on revenue of $16.5 billion. 54, was granted stock awards totaling about $14.82 million, a cash bonus of $6.35 million and a $1. 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. On her first day as CEO, she pledged that the bank would achieve net-zero greenhouse-gas emissionsin its financing activities by 2050. For its 2021 fiscal year, CITIGROUP INC, listed the following board members on its annual proxy statement to the SEC. This report is not for commercial use. The industry leader for online information for tax, accounting and finance professionals. 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. I vividly remember March 6 last year. Coronavirus Tips Working and Protection, For its 2021 fiscal year, CITIGROUP INC, listed the following executives on its annual proxy statement to the SEC. 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. Ms. Fraser's predecessor, Michael Corbat, was paid $19.04 million by Citigroup in 2020. Mike Corbat, Citigroup's chief executive, was paid $24m last year. 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. Jane Fraser, Chief Executive Officer, Citi. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. She has been tasked with simplifying the banks structure and getting its profitability on par with rivals. Incentives matter too. 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. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Citi veteran Jane Fraser has been named Michael Corbat's successor. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. 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. 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. 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. Fraser has since set about selling Citis retail banking businesses outside the United States, including its Mexican franchise, Citibanamex. Citigroup Inc. paid new Chief Executive Jane Fraser $22.5 million for her first year on the job. Is this happening to you frequently? 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. Not the one that runs along gender lines though Fraser does get a third less than her male peers. The information shown here is a reporting of information included in the company's proxy statement. 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. Jane Fraser, Citigroup's incoming CEO, announced a new accountability-focused team on Tuesday. 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 . 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. Jane Fraser talks about the critical role of cross-border data in growing Citi's revenues and future business strategy. That could fuel analysts questions at TDs earnings call Thursday. 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. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Its the only big U.S. bank stock that fell between Feb. 26, when Fraser took over, and the year end. But both its revenue and its earnings were lower than a year earlier, as credit card users reduced their activity. Our Standards: The Thomson Reuters Trust Principles. Ms Fraser received $9.2m in total compensation in 2018, for her work as chief executive of Citi's Latin American operations. Far better than ending up as a troubled bank with a demotivated leader. Fraser formally took the helm at Citi last February after being named as Mike Corbat's successor in 2020. - Fraser officially took over at Citi on Feb. 26, replacing Mike Corbat, who earned $23 million in his final full year. Bank of America boss Brian Moynihan is in line for $32 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. During her 18-year career at Citi, Jane has held leadership roles across Citi's consumer and institutional businesses. 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. 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 proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. Her route to being the first woman to head a top 5 U.S. bank included stops at Goldman and McKinsey. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. 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. These symbols will be available throughout the site during your session. Jane Fraser's picture. 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. We've received your submission. 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. Citi's Jane Fraser, the First Female CEO of a Major U.S. Bank, Gets $22.5 Million for 2021 . Morgan Stanleys James Gorman and Goldman Sachss David Solomon were paid $35 million each for their work last year. Fraser was Citi's. 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. (Editing by Lauren Silva Laughlin and Sharon Lam). 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. Ms. Fraser received a $1.5 million salary and a $3.45 million cash bonus, according to a. This copy is for your personal, non-commercial use only. From 2009 to 2013, Jane served as the Chief Executive Officer of Citi's Global Private Bank. The PSUs value varies based on the banks return on tangible common equity and tangible book value per share over three years. ; 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 . articles a month for anyone to read, even non-subscribers! 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. Coronavirus Tips Working and Protection. Citi picks Jane Fraser as next CEO first woman to lead the bank. 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. Let Banking Dive's free newsletter keep you informed, straight from your inbox. 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. As CEO at CITIGROUP INC, Jane Fraser made $20,541,324 in total compensation. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. 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. Please disable your ad-blocker and refresh. She has been tasked with simplifying the bank's structure and getting its profitability on par with rivals. Jane Fraser's promotion as the incoming CEO of Citigroup will make her the first woman to head a major Wall Street bank. She received a salary of $500,000, a bonus of $4,801,276 and stock awards of $11,995,705. 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. Jane Fraser addresses Brazil-US Business Council forum in Washington, DC in March 2019. 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. But on Wall Street, she is a poor cousin. - 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. The majority of her pay$14.82 million in restricted stock tied to performance metricsis in restricted stock. 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. Educated at Girton College, Cambridge, and Harvard Business School, she was a partner at McKinsey & Company for 10 years before joining Citigroup in 2004. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Morgan Stanley shares were up around 25% over the same time. In a chefs kiss of pay excess, Dimon and Solomon each got retention bonuses of around $50 million. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. John Foley for CITIGROUP INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. 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. Distribution and use of this material are governed by Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Citis closest peer is JPMorgan, whose share return isnt meaningfully different. That's down from 29% in the first year Citi reported the figures. | 2 p.m. 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. She is the. Ms Fraser's total pay in 2021 was $22.5 million. Her remarkable achievements have earned her some luxurious lifestyles and some fancy car trips. You may also find the annual proxy statement by going directly to the company's website. She's the only CEO of a top-six U.S. bank to receive a raise last year. 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. California Weighs $360,000 in Reparations to Eligible Black Residents. In a chefs kiss of pay excess, Dimon and Solomon each got retention bonuses of around $50 million. This information is according to proxy statements filed for the 2021 fiscal year.
Tucker's Menu Nutrition,
Disadvantages Of Being A Medical Photographer,
Dicom Accession Number,
Articles J