54, was granted stock awards totaling about $14.82 million, a cash bonus of $6.35 million and a $1. See here for a complete list of exchanges and delays. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. Type a symbol or company name. But Fraser starts off on the back foot, thanks to years of value destruction under predecessor Mike Corbat. As CEO at CITIGROUP INC, Jane Fraser made $20,541,324 in total compensation. Track Latest News and Election Results Coverage Live on NDTV.com and get news updates from India and around the world. 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. Fraser's compensation includes a $1.3 million cash. The estimated Net Worth of Jane Nind Fraser is at least $25 Million dollars as of 27 February 2018. Incentives matter too. 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. The "global . Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. 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. 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. Not the one that runs along gender lines though Fraser does get a third less than her male peers. 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. The $1.33M base salary is consistent with the annualized rate of $1.5M for the 10. 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However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. 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. Morgan Stanley shares were up around 25% over the same time. JPMorgans Jamie Dimon and Bank of Americas Brian Moynihan were a whisker behind, at $34.5 million and $32 million, respectively. 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. Her route to being the first woman to head a top 5 U.S. bank included stops at Goldman and McKinsey. JPMorgan trades at 1.8 times its book value; Citis valuation is less than half that. Coronavirus Tips Working and Protection, For its 2021 fiscal year, CITIGROUP INC, listed the following executives on its annual proxy statement to the SEC. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV. .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}Sign In, Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. She has been tasked with simplifying the bank's structure and getting its profitability on par with rivals. 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. Educated at Girton College, Cambridge, and Harvard Business School, she was a partner at McKinsey & Company for 10 years before joining Citigroup in 2004. Jane Fraser net worth is estimated at around $25 million. - 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. 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. Citi's Jane Fraser, the First Female CEO of a Major U.S. Bank, Gets $22.5 Million for 2021 . 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%. JPMorgan Chase & Cohead Jamie Dimon is receiving $34.5 million for 2021. 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. For non-personal use or to order multiple copies, please contact 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. Thats less sensible than it sounds. As data privacy regulations around the For its 2021 fiscal year, CITIGROUP INC, listed the following CEO pay ratio data on its annual proxy statement to the SEC. The Tennessee bank, in a filing Wednesday, said TD does not expect regulatory approval by the deal's May 27 extended deadline. Fraser was Citi's. Citigroup Inc. paid Chief Executive Jane Fraser $24.5 million for 2022, up 9% from the prior year. I vividly remember March 6 last year. - Fraser officially took over at Citi on Feb. 26, replacing Mike Corbat, who earned $23 million in his final full year. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Latest Update on the Future of Work at Citi. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Rather, Citi typifies the habit of paying bosses of high-performing banks much more than poorly performing ones. 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. . However, women make 99% of what men do when they're given the same titles and have similar levels of experience, Citi said. 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. 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. Is this happening to you frequently? 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. 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Citigroup Inc. paid new Chief Executive Jane Fraser $22.5 million for her first year on the job. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. 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. She has been tasked with simplifying the banks structure and getting its profitability on par with rivals. Fraser's rise is the result of a multiyear effort at Citi, the $74. Frasers compensation breaks down to a $1.33 million annual salary, a $6.35 million cash incentive, $4.23 million in deferred stock that vests over four years and $10.58 million in performance share units (PSUs). (Source: @Citi) By 2019, she is said to have received $17.3 million in total remuneration. 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.