jane fraser citi salary

Not the one that runs along gender lines though Fraser does get a third less than her male peers. NEW YORK, Feb 15 (Reuters Breakingviews) - Jane Frasers $22.5 million package for running Citigroup (C.N) embodies a Wall Street pay gap. Educated at Girton College, Cambridge, and Harvard Business School, she was a partner at McKinsey & Company for 10 years before joining Citigroup in 2004. Get the free daily newsletter read by industry experts. Jane Fraser (executive) - Wikipedia Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 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. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Thats up from 35% last year. The majority of her pay$14.82 million in restricted stock tied to performance metricsis in restricted stock. Citigroup's Jane Fraser is doing the unthinkable on Wall Street - CNN Reuters->. 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. She has been tasked with simplifying the bank's structure and getting its profitability on par with rivals. 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. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. 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. 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. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Type a symbol or company name. Rather, Citi typifies the habit of paying bosses of high-performing banks much more than poorly performing ones. 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. It was a Friday. ET, First Horizon warns TD deal may be in limbo, Citi to cut hundreds of investment banking, mortgage, tech jobs: reports, Senators urge Fed, OCC, FDIC and NCUA to keep close eye on Zelle, JPMorgan decries fishing expedition in Epstein case, How Banks are Better Navigating Industry Changes, Winning banking customer service in the COVID era, The rise of imitation banks may lead to regulatory scrutiny, Crypto Companies Behind Tether Used Falsified Documents and Shell Companies to Get Bank Accounts, N26 head of risk quits in escalating leadership crisis, How to Deliver Cost Savings While Improving Service in the Banking World, 2023 Economic Insight & Best Practices in Financial Risk Management, How to Decrease Errors & Fraud in Financial Institutions, Protecting your Financial Institution from Mobile Fraud Schemes in 2023, First Fidelity Bank enters BaaS space with Episode Six partnership, Ohio bank reaches $9M redlining settlement with DOJ, Goldman pins its hopes on asset and wealth management, While her compensation ranks well below industry leaders the CEOs of, Frasers $22.5 million for 2021 is also 18.2% more than the. We've received your submission. Her main source of income is from her primary work as a business executive and CEO. As data privacy regulations around the Feb. 28. our Subscriber Agreement and by copyright law. In its filing Monday, Citi's compensation committee lauded Fraser's quick work in setting priorities for the bank. Morgan Stanley shares were up around 25% over the same time. Jane Fraser Has to Fix Citigroup. It Will Be a Tough Job. - Moneycontrol In addition, she makes $17,313,800 as President and Chief Executive Officer at Citigroup Inc. Citi pays Fraser $22.5M in her first year as CEO | Banking Dive You may also find the annual proxy statement by going directly to the company's website. Rather, Citi typifies the habit of paying bosses of high-performing banks much more than poorly performing ones. 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. Citi CEO Jane Fraser shares her perspective on banking's shifting leadership landscape and the opportunity for diverse styles on CNBC Closing Bell: "I hope to California Weighs $360,000 in Reparations to Eligible Black Residents. 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. - 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. 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. 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. Citi picks Jane Fraser as next CEO first woman to lead the bank Written by All rights reserved. For its 2021 fiscal year, CITIGROUP INC, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Jane Fraser net worth is estimated at around $25 million. She's the only CEO of a top-six U.S. bank to receive a raise last year. Citi's Jane Fraser, the First Female CEO of a Major U.S. Bank, Gets $22.5 Million for 2021 . .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}Sign In, Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. JPMorgan trades at 1.8 times its book value; Citis valuation is less than half that. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Citigroup CEO Jane Fraser gets $22.5M pay package for 2021 For its 2021 fiscal year, CITIGROUP INC, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Her remarkable achievements have earned her some luxurious lifestyles and some fancy car trips. CEO compensation has risen steadily since the late 1970s. Citigroup (NYSE: C) CEO Jane Fraser gets total compensation of $22.5M for 2021, the company said in a filing. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Fraser, 54, comes to the role of CEO armed with a resume straight out of Wall Street central casting. 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 ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Incentives matter too. JPMorgan trades at 1.8 times its book value; Citis valuation is less than half that. 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. Create your Watchlist to save your favorite quotes on Nasdaq.com. Thats less sensible than it sounds. 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 Scottish-born Fraser has been with Citi since 2004 and currently oversees the banks massive global consumer banking operation. Fraser's compensation includes a $1.3 . Type a symbol or company name. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. 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. Not the one that runs along gender lines though Fraser does get a third less than her male peers. Shes the first female CEO of a major US bank. Copy and paste multiple symbols separated by spaces. The industry leader for online information for tax, accounting and finance professionals. Thorough reviews have been conducted to assure this data accurately reflects disclosures. If those targets are tough, setting pay in line with peers is therefore less like rewarding failure, and more like incentivizing competition. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. If you have an ad-blocker enabled you may be blocked from proceeding. 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. But Fraser starts off on the back foot, thanks to years of value destruction under predecessor Mike Corbat. 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 took over as the first female chief executive of a major Wall Street bank in February 2021. Fraser was Citi's. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. 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. 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. On the surface, Citis performance explains the difference. CONTEXT NEWS. Since Fraser took over the reins at Citi (. While Other Bank CEOs Take Pay Cuts, Citigroup's CEO Jane Fraser Gets a Jennifer Surane. She has been tasked with simplifying the banks structure and getting its profitability on par with rivals. | 2 p.m. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 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. Our Standards: The Thomson Reuters Trust Principles. Bank of America boss Brian Moynihan is in line for $32 million. This copy is for your personal, non-commercial use only. (Source: @Citi) By 2019, she is said to have received $17.3 million in total remuneration. Citigroup reported a 21% decline in fourth-quarter profit in January 2022, which missed forecasts. Do Not Sell My Personal Information (CA Residents Only). 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%. Bank of America boss Brian Moynihan is in line for $32 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. She also received $16,800 in other forms of compensation. But both its revenue and its earnings were lower than a year earlier, as credit card users reduced their activity. Latest Update on the Future of Work at Citi. Fraserwas paid $17.1 million for 2020. She is the. (The author is a Reuters Breakingviews columnist. The information shown here is a reporting of information included in the company's proxy statement. Jane Fraser talks about the critical role of cross-border data in growing Citi's revenues and future business strategy. Follow @johnsfoley https://twitter.com/johnsfoley on Twitter. Citigroup CEO Jane Fraser to get $22.5 million payday - New York Post Jane Fraser's picture. Topics include: Commercial banking, payments, technology, risk, regulations, policy, Topics covered: bank/fintech relationship, banks buying fintechs, regulation, risk of neobanks and much more. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Fraser's rise is the result of a multiyear effort at Citi, the $74. Fraser was Citis president and head of the consumer business for the 2020 pay period. While Chiefs at other big banks, including Goldman and Morgan Stanley, took a pay cut, Citigroup Inc paid Chief Executive Jane Fraser $24.5. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. During her 18-year career at Citi, Jane has held leadership roles across Citi's consumer and institutional businesses. 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. 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. Citigroup CEO Jane Fraser's total pay for 2023 set at $24.5 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. 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. 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