The bulk of her compensation$14.82 millionis in restricted stock tied to performance metrics. In addition, she makes $17,313,800 as President and Chief Executive Officer at Citigroup Inc. As data privacy regulations around the Citigroup CEO Jane Fraser's total pay for 2023 set at $24.5 million 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. Dive Brief: Citi paid CEO Jane Fraser $22.5 million for 2021, the bank revealed in a filing Monday. CITIGROUP INC Executive Salaries & Other Compensation - Salary.com Shes the first female CEO of a major US bank. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Not the one that runs along gender lines though Fraser does get a third less than her male peers. 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. She has been tasked with simplifying the bank's structure and getting its profitability on par with rivals. . 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. Her main source of income is from her primary work as a business executive and CEO. 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. This copy is for your personal, non-commercial use only. Citi's Jane Fraser, the First Female CEO of a Major U.S. Bank, Gets $22.5 Million for 2021 . American Airlines and its flight attendants union on Friday jointly applied for federal mediation in contract negotiations. The opinions expressed are his own.). 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. But on Wall Street, she is a poor cousin. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. She also received $16,800 in other forms of compensation. Citigroup Inc. paid new Chief Executive Jane Fraser $22.5 million for her first year on the job. Jane Fraser - Net Worth 2021, Salary, Age, Height, Bio, Family, Career. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Do Not Sell My Personal Information (CA Residents Only). The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}Sign In, Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. JPMorgan trades at 1.8 times its book value; Citis valuation is less than half that. Type a symbol or company name. The $1.33M base salary is consistent with the annualized rate of $1.5M for the 10. , The free newsletter covering the top industry headlines, By Anna Hrushka, Dan Ennis and Gabrielle Saulsbery , Encapture releases data validation solution to enhance compliance automation, By signing up to receive our newsletter, you agree to our, Webinar Jane Fraser Net Worth (2022) | wallmine As CEO at CITIGROUP INC, Jane Fraser made $20,541,324 in total compensation. articles a month for anyone to read, even non-subscribers! Will His AI Plans Be Any Different? Continue reading your article witha WSJ subscription, Already a member? Compensation Information for Jane Fraser, CEO of CITIGROUP INC - Salary.com This report is not for commercial use. Jane Fraser's promotion as the incoming CEO of Citigroup will make her the first woman to head a major Wall Street bank. Fraser formally took the helm at Citi last February after being named as Mike Corbat's successor in 2020. Mr. 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. 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. 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. 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. 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. On her first day as CEO, she pledged that the bank would achieve net-zero greenhouse-gas emissionsin its financing activities by 2050. Morgan Stanley shares were up around 25% over the same time. That was when it really hit me that . Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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. See here for a complete list of exchanges and delays. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Track Latest News and Election Results Coverage Live on NDTV.com and get news updates from India and around the world. Create your Watchlist to save your favorite quotes on Nasdaq.com. 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. JPMorgan Chase & Co (JPM.N) head Jamie Dimon is receiving $34.5 million for 2021. If you have an ad-blocker enabled you may be blocked from proceeding. Type a symbol or company name. Jane Fraser net worth is estimated at around $25 million. 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. For non-personal use or to order multiple copies, please contact | 2 p.m. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. ; 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 . Follow @johnsfoley https://twitter.com/johnsfoley on Twitter. Fraserwas paid $17.1 million for 2020. 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). This website follows the DNPA Code of Ethics Copyright NDTV Convergence Limited 2023. Jane Fraser talks about the critical role of cross-border data in growing Citi's revenues and future business strategy. Is this happening to you frequently? Leadership Team - Jane Fraser | Citi Fraser, 54, comes to the role of CEO armed with a resume straight out of Wall Street central casting. This report is not for commercial use. Our Standards: The Thomson Reuters Trust Principles. 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. Fraser has since set about selling Citis retail banking businesses outside the United States, including its Mexican franchise, Citibanamex. Chuck Klusman on LinkedIn: Citi on LinkedIn: CEO Jane Fraser | CNBC These symbols will be available throughout the site during your session. She's the only CEO of a top-six U.S. bank to receive a raise last year. Bank of America boss Brian Moynihan is in line for $32 million. Jane Fraser, Citigroup's incoming CEO, announced a new accountability-focused team on Tuesday. You may also find the annual proxy statement by going directly to the company's website. Citis closest peer is JPMorgan, whose share return isnt meaningfully different. 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. 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 - CEO - Citi | LinkedIn Copy and paste multiple symbols separated by spaces. 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. Its the only big U.S. bank stock that fell between Feb. 26, when Fraser took over, and the year end. Far better than ending up as a troubled bank with a demotivated leader. It was a Friday. CEO compensation has risen steadily since the late 1970s. See here for a complete list of exchanges and delays. Fraser, 54, was granted stock awards totaling about $14.82 million, a cash bonus of $6.35 million and a $1.33 million salary, the New York-based bank said Monday in a filing. https://www.wsj.com/articles/citigroups-jane-fraser-gets-22-5-million-for-first-year-as-ceo-11644877691. Fraser was Citi's. All proxy statements are public filings made available to the general public by the SEC. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. 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. But Frasers firm is less efficient, slower-growing and earns a lower return on equity. Fraser's compensation includes a $1.3 million cash. Citi's Jane Fraser embodies Wall Street's pay gap | Nasdaq Ms Fraser's pay rise has made her the only big US bank boss to receive a bump amid a challenging year for the industry. On the surface, Citis performance explains the difference. 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. Fraser was Citis president and head of the consumer business for the 2020 pay period. - 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. - 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. CITIGROUP INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. | 1 p.m. - 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.

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