The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. The PSUs value varies based on the banks return on tangible common equity and tangible book value per share over three years. Citis closest peer is JPMorgan, whose share return isnt meaningfully different. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. - 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. Thorough reviews have been conducted to assure this data accurately reflects disclosures. 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. 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Fraser's rise is the result of a multiyear effort at Citi, the $74. Jane Fraser talks about the critical role of cross-border data in growing Citi's revenues and future business strategy. Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. If those targets are tough, setting pay in line with peers is therefore less like rewarding failure, and more like incentivizing competition. On her first day as CEO, she pledged that the bank would achieve net-zero greenhouse-gas emissionsin its financing activities by 2050. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. JPMorgan trades at 1.8 times its book value; Citis valuation is less than half that. - 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. 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. Citis closest peer is JPMorgan, whose share return isnt meaningfully different. Her main source of income is from her primary work as a business executive and CEO. 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. We've received your submission. | 2 p.m. 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. Fraser's compensation is less than that previously announced for more experienced CEOs of other big banks, which are more profitable. 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%. Create your Watchlist to save your favorite quotes on Nasdaq.com. Please. Latest Update on the Future of Work at Citi. 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. But on Wall Street, she is a poor cousin. Bank of America boss Brian Moynihan is in line for $32 million. But Fraser starts off on the back foot, thanks to years of value destruction under predecessor Mike Corbat. This report is not for commercial use. It was a Friday. Citigroup directors citedFrasers ability to establish a clear set of priorities aimed at increasing long-term shareholder value among the reasons behind the compensation. Her remarkable achievements have earned her some luxurious lifestyles and some fancy car trips. Thats less sensible than it sounds. The estimated Net Worth of Jane Nind Fraser is at least $25 Million dollars as of 27 February 2018. | 1 p.m. Fraserwas paid $17.1 million for 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. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. Jane Fraser net worth is estimated at around $25 million. Not the one that runs along gender lines though Fraser does get a third less than her male peers. Copy and paste multiple symbols separated by spaces. Dive Brief: Citi paid CEO Jane Fraser $22.5 million for 2021, the bank revealed in a filing Monday. Conrad Sangma To Be Sworn In As Meghalaya Chief Minister On March 7. I vividly remember March 6 last year. That could fuel analysts questions at TDs earnings call Thursday. 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. Jane Fraser's picture. Thorough reviews have been conducted to assure this data accurately reflects disclosures. Ms Fraser's total pay in 2021 was $22.5 million. https://www.wsj.com/articles/citigroups-jane-fraser-gets-22-5-million-for-first-year-as-ceo-11644877691. To any normal human, Fraser makes out like a bandit, getting 350 times more than the average New York City household. 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. 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. Before becoming CEO, she was . 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. JPMorgan Chase & Co (JPM.N) head Jamie Dimon is receiving $34.5 million for 2021. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. 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. Its the only big U.S. bank stock that fell between Feb. 26, when Fraser took over, and the year end. Thats up from 35% last year. 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. Jane Fraser, Citigroup's incoming CEO, announced a new accountability-focused team on Tuesday. 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. 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. Fraser formally took the helm at Citi last February after being named as Mike Corbat's successor in 2020. Jane Fraser talks about the critical role of cross-border data in growing Citi's revenues and future business strategy. Jennifer Surane. In January, Citi reported a profit of $4.6 billion on revenue of $16.5 billion. 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. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Ms Fraser's total pay in 2021 was $22.5 million. 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. 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. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. 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. 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. Fraser has since set about selling Citis retail banking businesses outside the United States, including its Mexican franchise, Citibanamex. The bulk of her compensation$14.82 millionis in restricted stock tied to performance metrics. Morgan Stanley shares were up around 25% over the same time. Before joining Citi, Jane was a Partner at McKinsey & Company. This website follows the DNPA Code of Ethics Copyright NDTV Convergence Limited 2023. 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). She worked as a Goldman Sachs analyst after receiving her degree in economics at Cambridge.. Ms. Fraser received a $1.5 million salary and a $3.45 million cash bonus, according to a. 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. 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. American Airlines and its flight attendants union on Friday jointly applied for federal mediation in contract negotiations. CEO compensation has risen steadily since the late 1970s. 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. She received a salary of $500,000, a bonus of $4,801,276 and stock awards of $11,995,705. 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. CONTEXT NEWS. As CEO at CITIGROUP INC, Jane Fraser made $20,541,324 in total compensation. Far better than ending up as a troubled bank with a demotivated leader. 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. Mitsubishi Signs $1.9b Commuter Rail Deal With Manila: Nikkei, Twitter Revenue, Earnings Fell About 40% in December, WSJ Says, John Malone andCharter Directors Agree to $87.5 Million Settlement, China E-Commerce Giant JD Set for $1.4 Billion Discount Spree, Between Rounds of Golf, Trumps Searching for the Perfect DeSantis Diss, Your Saturday UK Briefing: Sunak Chalks Up a Win as the Budget Looms, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, Tom Sizemore, 'Saving Private Ryan' Actor, Dies at 61, The Exhibit Reality TV Show PittingArtist Against ArtistIs No Masterpiece. Continue reading your article witha WSJ subscription, Already a member? Mike Corbat, Citigroup's chief executive, was paid $24m last year. That's down from 29% in the first year Citi reported the figures. 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. The $1.33M base salary is consistent with the annualized rate of $1.5M for the 10. Please disable your ad-blocker and refresh. 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. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. The information shown here is a reporting of information included in the company's proxy statement. The information shown here is a reporting of information included in the company's proxy statement. Citigroup reported a 21% decline in fourth-quarter profit in January 2022, which missed forecasts. If those targets are tough, setting pay in line with peers is therefore less like rewarding failure, and more like incentivizing competition. Rather, Citi typifies the habit of paying bosses of high-performing banks much more than poorly performing ones. 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. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. Not the one that runs along gender lines though Fraser does get a third less than her male peers. All quotes delayed a minimum of 15 minutes. Far better than ending up as a troubled bank with a demotivated leader. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. (The author is a Reuters Breakingviews columnist. Jane Fraser, Chief Executive Officer, Citi. - 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. Ms. Fraser, who became chief executive on March 1, 2021, was given a salary of $1.33 million.