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Citigroup Inc. paid new Chief Executive Jane Fraser $22.5 million for her first year on the job. Track Latest News and Election Results Coverage Live on NDTV.com and get news updates from India and around the world. 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. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Citi's Jane Fraser, the First Female CEO of a Major U.S. Bank, Gets $22.5 Million for 2021 . 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. CITIGROUP INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Thanks for contacting us. 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. 54, was granted stock awards totaling about $14.82 million, a cash bonus of $6.35 million and a $1. Morgan Stanleys James Gorman and Goldman Sachss David Solomon were paid $35 million each for their work last year. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. As data privacy regulations around the Amazon Pauses Construction on Second Headquarters in Virginia as It Cuts Jobs, Amazon Is Closing Its Cashierless Stores in NYC, San Francisco and Seattle, iPhone Maker Plans $700 Million India Plant in Shift From China, Stock Traders Are Ignoring Blaring Bond Alarms, S&P 500 Notches Best Week Since Late January: Markets Wrap. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Ms Fraser's total pay in 2021 was $22.5 million. Jane Fraser, Chief Executive Officer, Citi. 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. 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. 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. Rather, Citi typifies the habit of paying bosses of high-performing banks much more than poorly performing ones. Type a symbol or company name. 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 estimated Net Worth of Jane Nind Fraser is at least $25 Million dollars as of 27 February 2018. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Rather, Citi typifies the habit of paying bosses of high-performing banks much more than poorly performing ones. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Ms Fraser received $9.2m in total compensation in 2018, for her work as chief executive of Citi's Latin American operations. 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. Before joining Citi, she was a partner at McKinsey & Co. Fraserformally took the helm at Citi last February after being named as Mike Corbats successor in 2020. Jane Fraser net worth is estimated at around $25 million. Shes the first female CEO of a major US bank. This information is according to proxy statements filed for the 2021 fiscal year. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Written by Mike Corbat, Citigroup's chief executive, was paid $24m last year. For its 2021 fiscal year, CITIGROUP INC, listed the following CEO pay ratio data on its annual proxy statement to the SEC. As CEO at CITIGROUP INC, Jane Fraser made $20,541,324 in total compensation. 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. Ms Fraser's total pay in 2021 was $22.5 million. On her first day as CEO, she pledged that the bank would achieve net-zero greenhouse-gas emissionsin its financing activities by 2050. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Conrad Sangma To Be Sworn In As Meghalaya Chief Minister On March 7. Jennifer Surane. 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. Let Banking Dive's free newsletter keep you informed, straight from your inbox. Topics include: Commercial banking, payments, technology, risk, regulations, policy, Topics covered: bank/fintech relationship, banks buying fintechs, regulation, risk of neobanks and much more. The industry leader for online information for tax, accounting and finance professionals. For its 2021 fiscal year, CITIGROUP INC, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Educated at Girton College, Cambridge, and Harvard Business School, she was a partner at McKinsey & Company for 10 years before joining Citigroup in 2004. The Tennessee bank, in a filing Wednesday, said TD does not expect regulatory approval by the deal's May 27 extended deadline. Citigroup directors citedFrasers ability to establish a clear set of priorities aimed at increasing long-term shareholder value among the reasons behind the compensation. CONTEXT NEWS. Copy and paste multiple symbols separated by spaces. She worked as a Goldman Sachs analyst after receiving her degree in economics at Cambridge.. The "global . 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. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. - Fraser officially took over at Citi on Feb. 26, replacing Mike Corbat, who earned $23 million in his final full year. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. But Fraser starts off on the back foot, thanks to years of value destruction under predecessor Mike Corbat. (The author is a Reuters Breakingviews columnist. That could fuel analysts questions at TDs earnings call Thursday. 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. 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. If those targets are tough, setting pay in line with peers is therefore less like rewarding failure, and more like incentivizing competition. As data privacy regulations around the They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. For its 2021 fiscal year, CITIGROUP INC, listed the following board members on its annual proxy statement to the SEC. 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. Prior, Jane was the Global Head of Strategy and Mergers & Acquisitions for Citi from 2007 to 2009. Will Others Follow? All proxy statements are public filings made available to the general public by the SEC. 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. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. 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. Continue reading your article witha WSJ subscription, Already a member? Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. 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. Fraser was Citis president and head of the consumer business for the 2020 pay period. Half of Frasers non-base-pay compensation derives from the PSUs. 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. Morgan Stanley shares were up around 25% over the same time. On the surface, Citis performance explains the difference. Ms. Fraser's predecessor, Michael Corbat, was paid $19.04 million by Citigroup in 2020. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives.