Last Updated: February 23, 2023, 10:26 IST
Citigroup Chief Executive Officer Jane Fraser (File picture/Reuters)
Fraser’s complete pay in 2021 was $22.5 million.
Citigroup (C.N) elevated Chief Executive Officer Jane Fraser’s compensation by practically 9% to $24.5 million for 2022, the lender stated in a submitting on Tuesday.
Fraser’s complete pay in 2021 was $22.5 million.
She took over as the primary feminine chief govt of a serious Wall Street financial institution in February 2021.
Her pay remains to be under the $34.5 million of JPMorgan & Chase Co’s JPM.N CEO Jamie Dimon, and Morgan Stanley (MS.N) CEO James Gorman’s $31.5 million.
Fraser’s base wage was $1.5 million, her money incentive was $3.45 million and her deferred incentives included $8.05 million in deferred inventory and $11.5 million of efficiency share models, the submitting confirmed.
Citigroup reported a 21% fall in fourth-quarter revenue final month, lacking forecasts, because the financial institution elevated provisions to organize for a worsening economic system and as funding banking income declined as a result of a pointy drop in dealmaking exercise.
Citigroup final 12 months submitted a complete multiyear plan to the Federal Reserve and the Office of the Comptroller of the Currency outlining steps to repair weaknesses in its threat administration and inner controls
Citigroup stated on Tuesday it gives regulators its plans and progress on remediation efforts on an ongoing foundation and is working constructively with the regulators to take their suggestions.
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