jane fraser citi salary jane fraser citi salary

Get started 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. https://www.wsj.com/articles/citigroups-jane-fraser-gets-22-5-million-for-first-year-as-ceo-11644877691. Citi's incoming CEO Jane Fraser forms new operating team to build However, women make 99% of what men do when they're given the same titles and have similar levels of experience, Citi said. See here for a complete list of exchanges and delays. Jane Fraser net worth is estimated at around $25 million. Jane Fraser - Net Worth 2021, Salary, Age, Height, Bio, Family, Career. Jane Fraser's promotion as the incoming CEO of Citigroup will make her the first woman to head a major Wall Street bank. CONTEXT NEWS. The opinions expressed are his own.). However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Citi paid CEO Jane Fraser $24.5 million for 2022, an 8.9% increase over the $22.5 million she made the previous year, according to a filing the bank made Tuesday with the Securities and Exchange Commission. This copy is for your personal, non-commercial use only. 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. But Frasers firm is less efficient, slower-growing and earns a lower return on equity. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. She received a salary of $500,000, a bonus of $4,801,276 and stock awards of $11,995,705. . 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. See here for a complete list of exchanges and delays. Thats less sensible than it sounds. Type a symbol or company name. This report is not for commercial use. Bank of America boss Brian Moynihan is in line for $32 million. To any normal human, Fraser makes out like a bandit, getting 350 times more than the average New York City household. Fraser's compensation includes a $1.3 . 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She has been tasked with simplifying the banks structure and getting its profitability on par with rivals. All proxy statements are public filings made available to the general public by the SEC. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. 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. Citi veteran Jane Fraser has been named Michael Corbat's successor. Incentives matter too. 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. "Notwithstanding challenging macroeconomic and geopolitical developments, under Ms Fraser's leadership Citi made solid progress on each of our priorities, and the compensation committee recognises the strategic direction that took shape during 2022," Citi said in its filing. The information shown here is a reporting of information included in the company's proxy statement. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. 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. On the surface, Citis performance explains the difference. Follow @johnsfoley https://twitter.com/johnsfoley on Twitter. Dive Brief: Citi paid CEO Jane Fraser $22.5 million for 2021, the bank revealed in a filing Monday. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 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. As CEO at CITIGROUP INC, Jane Fraser made $20,541,324 in total compensation. Our Standards: The Thomson Reuters Trust Principles. Coronavirus Tips Working and Protection. She joined Citi in 2004 in the Corporate and Investment Banking division. Citigroup (C) Awards CEO Jane Fraser $22.5 Million for 2021 - Bloomberg.com While Chiefs at other big banks, including Goldman and Morgan Stanley, took a pay cut, Citigroup Inc paid Chief Executive Jane Fraser $24.5. The industry leader for online information for tax, accounting and finance professionals. 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Ms Fraser's total pay in 2021 was $22.5 million. We've received your submission. Fraser was Citis president and head of the consumer business for the 2020 pay period. Copy and paste multiple symbols separated by spaces. 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Want to share a company announcement with your peers? If a company isnt doing well, its board and investors should want the best person to clean it up. Fraser has since set about selling Citis retail banking businesses outside the United States, including its Mexican franchise, Citibanamex. In addition, she makes $17,313,800 as President and Chief Executive Officer at Citigroup Inc. JPMorgans Jamie Dimon and Bank of Americas Brian Moynihan were a whisker behind, at $34.5 million and $32 million, respectively. 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. Bank of America boss Brian Moynihan is in line for $32 million. - 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. 54, was granted stock awards totaling about $14.82 million, a cash bonus of $6.35 million and a $1. American Airlines and its flight attendants union on Friday jointly applied for federal mediation in contract negotiations. 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. Please. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. (The author is a Reuters Breakingviews columnist. She is the. Opinions expressed are those of the author. Harsher penalties, a fiercer fight over ESG philosophy and a more urgent push to regulate crypto appear poised to roil the finance sector this year. 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. Citigroup directors citedFrasers ability to establish a clear set of priorities aimed at increasing long-term shareholder value among the reasons behind the compensation. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Citigroup Raises CEO Jane Fraser's Salary To $24.5 Million Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. 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. Ms. Fraser, who became chief executive on March 1, 2021, was given a salary of $1.33 million. 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. This website follows the DNPA Code of Ethics Copyright NDTV Convergence Limited 2023. NEW YORK, Feb 15 (Reuters Breakingviews) - Jane Frasers $22.5 million package for running Citigroup (C.N) embodies a Wall Street pay gap. Its the only big U.S. bank stock that fell between Feb. 26, when Fraser took over, and the year end. On the surface, Citis performance explains the difference. CITIGROUP INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Coronavirus Tips Working and Protection, For its 2021 fiscal year, CITIGROUP INC, listed the following executives on its annual proxy statement to the SEC. She also received $16,800 in other forms of compensation. 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. Fraser was paid $12.5 million last year, according to a company filing, or about half of Corbat's $24 million salary. Jane Fraser - CEO - Citi | LinkedIn Jane Fraser Net Worth (2022) | wallmine For non-personal use or to order multiple copies, please contact The industry leader for online information for tax, accounting and finance professionals. 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 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. 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. Far better than ending up as a troubled bank with a demotivated leader. Ms. Fraser's predecessor, Michael Corbat, was paid $19.04 million by Citigroup in 2020. ; 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 . 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. Fraser has since set about selling Citis retail banking businesses outside the United States, including its Mexican franchise, Citibanamex. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Jane Fraser, Chief Executive Officer, Citi. Citi in 2018 chose to reveal raw pay gap data, becoming the first U.S. bank of its size to do so, and it typically posts yearly updates on its progress narrowing the wage gap. - Fraser officially took over at Citi on Feb. 26, replacing Mike Corbat, who earned $23 million in his final full year. articles a month for anyone to read, even non-subscribers! 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. Citis closest peer is JPMorgan, whose share return isnt meaningfully different. . Incentives matter too. Thorough reviews have been conducted to assure this data accurately reflects disclosures. See here for a complete list of exchanges and delays. She's the only CEO of a top-six U.S. bank to receive a raise last year. She has been tasked with simplifying the bank's structure and getting its profitability on par with rivals. 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Fraser's compensation includes a $1.3 million cash. 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. 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). Thats up from 35% last year. 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. 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. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. - 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. 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. | 1 p.m. Jane Fraser (executive) - Wikipedia As data privacy regulations around the 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. All proxy statements are public filings made available to the general public by the SEC. 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 2023, Age, Husband, Children, Height, Family David Westin speaks with top names in finance about the week's biggest issues on Wall Street. CITIGROUP INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. read more. 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. It was a Friday. - 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. Written by 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). Leadership Team - Jane Fraser | Citi 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. On her first day as CEO, she pledged that the bank would achieve net-zero greenhouse-gas emissionsin its financing activities by 2050. 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. Jane Fraser on Rethinking Citigroup's Mission, Inclusivity | TIME 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. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Compensation Information for Jane Fraser, CEO of CITIGROUP INC - Salary.com The bulk of her compensation$14.82 millionis in restricted stock tied to performance metrics. Citigroup's Jane Fraser is doing the unthinkable on Wall Street - CNN 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. But on Wall Street, she is a poor cousin. While Chiefs at other big banks, including Goldman and Morgan Stanley, took a pay cut, Citigroup Inc paid Chief Executive Jane Fraser $24.5 million for 2022, up 9 per cent from the prior year, reported Wall Street Journal. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Conrad Sangma To Be Sworn In As Meghalaya Chief Minister On March 7. 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. - 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. In its filing Monday, Citi's compensation committee lauded Fraser's quick work in setting priorities for the bank. Fraser's compensation is less than that previously announced for more experienced CEOs of other big banks, which are more profitable. Citi boosts Fraser's pay 8.9% to $24.5M | Banking Dive Citigroup Inc. paid new Chief Executive Jane Fraser $22.5 million for her first year on the job. The Tennessee bank, in a filing Wednesday, said TD does not expect regulatory approval by the deal's May 27 extended deadline. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Jane Fraser addresses Brazil-US Business Council forum in Washington, DC in March 2019. Not the one that runs along gender lines though Fraser does get a third less than her male peers. Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. our Subscriber Agreement and by copyright law. Jennifer Surane. For its 2021 fiscal year, CITIGROUP INC, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Thanks for contacting us. Citigroup's Jane Fraser Will Be The First Female CEO Of A - Forbes See here for a complete list of exchanges and delays. As CEO at CITIGROUP INC, Jane Fraser made $20,541,324 in total compensation. Morgan Stanley shares were up around 25% over the same time. 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. Jane Fraser talks about the critical role of cross-border data in growing Citi's revenues and future business strategy. Ms Fraser received $9.2m in total compensation in 2018, for her work as chief executive of Citi's Latin American operations. 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. Citigroup CEO Jane Fraser's total pay for 2023 set at $24.5 million Citigroup's Jane Fraser to receive $12.5m pay grant But Fraser starts off on the back foot, thanks to years of value destruction under predecessor Mike Corbat. - 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. 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. Citi's Jane Fraser, the First Female CEO of a Major U.S. Bank, Gets $22.5 Million for 2021 . Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Before joining Citi, Jane was a Partner at McKinsey & Company. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. While Other Bank CEOs Take Pay Cuts, Citigroup's CEO Jane Fraser Gets a CITIGROUP INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. 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. Ms. Fraser, who .css-1h1us5y-StyledLink{color:var(--interactive-text-color);-webkit-text-decoration:underline;text-decoration:underline;}.css-1h1us5y-StyledLink:hover{-webkit-text-decoration:none;text-decoration:none;}became chief executive on March 1, 2021, was given a salary of $1.33 million and a cash bonus of $6.35 million. She took over as the first female chief executive of a major Wall Street bank in February 2021. Is this happening to you frequently? If a company isnt doing well, its board and investors should want the best person to clean it up. Its the only big U.S. bank stock that fell between Feb. 26, when Fraser took over, and the year end. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. (Source: @Citi) By 2019, she is said to have received $17.3 million in total remuneration. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Goldman Sachs Group Inc (GS.N) CEO David Solomon and Morgan Stanley (MS.N) CEO James Gorman are both getting $35 million, while Brian Moynihan, CEO of Bank of America Corp (BAC.N), is receiving $32 million. 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. Our Standards: The Thomson Reuters Trust Principles. The estimated Net Worth of Jane Nind Fraser is at least $25 Million dollars as of 27 February 2018. 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. Jane Fraser Bio, Age, Family, Husband, House, Salary, Net, Citigroup 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 raises Fraser's pay by 32% after appointing her as CEO 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. As data privacy regulations around the Citigroup's Jane Fraser Bucks Bank Rivals as 2022 Pay Rises to $24.5 That's down from 29% in the first year Citi reported the figures. Continue reading your article witha WSJ subscription, Already a member? The PSUs value varies based on the banks return on tangible common equity and tangible book value per share over three years. 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. Get the free daily newsletter read by industry experts. JPMorgan Chase & Co (JPM.N) head Jamie Dimon is receiving $34.5 million for 2021. 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.