Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. Citis closest peer is JPMorgan, whose share return isnt meaningfully different. See here for a complete list of exchanges and delays. She took over as the first female chief executive of a major Wall Street bank in February 2021. 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. Coronavirus Tips Working and Protection, For its 2021 fiscal year, CITIGROUP INC, listed the following executives on its annual proxy statement to the SEC. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. 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. But both its revenue and its earnings were lower than a year earlier, as credit card users reduced their activity. 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. 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. Jane Fraser | Chief Executive Officer, Citi - Citigroup Fraser's rise is the result of a multiyear effort at Citi, the $74. Her remarkable achievements have earned her some luxurious lifestyles and some fancy car trips. Bank of America boss Brian Moynihan is in line for $32 million. Incentives matter too. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. The industry leader for online information for tax, accounting and finance professionals. Citigroup (C) Awards CEO Jane Fraser $22.5 Million for 2021 - Bloomberg.com 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. JPMorgans Jamie Dimon and Bank of Americas Brian Moynihan were a whisker behind, at $34.5 million and $32 million, respectively. 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Since Fraser took over the reins at Citi (. The estimated Net Worth of Jane Nind Fraser is at least $25 Million dollars as of 27 February 2018. JPMorgan trades at 1.8 times its book value; Citis valuation is less than half that. Jane Fraser Net Worth (2022) | wallmine Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Jane Fraser talks about the critical role of cross-border data in growing Citi's revenues and future business strategy. The information shown here is a reporting of information included in the company's proxy statement. Distribution and use of this material are governed by Chuck Klusman on LinkedIn: Citi on LinkedIn: CEO Jane Fraser | CNBC JPMorgan trades at 1.8 times its book value; Citis valuation is less than half that. Not the one that runs along gender lines though Fraser does get a third less than her male peers. Copy and paste multiple symbols separated by spaces. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. Citigroup Inc. paid new Chief Executive Jane Fraser $22.5 million for her first year on the job. In addition, she makes $17,313,800 as President and Chief Executive Officer at Citigroup Inc. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. (Editing by Lauren Silva Laughlin and Sharon Lam). Do Not Sell My Personal Information (CA Residents Only). 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. CITIGROUP INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. If you have an ad-blocker enabled you may be blocked from proceeding. Before joining Citi, Jane was a Partner at McKinsey & Company. 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. 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. While Other Bank CEOs Take Pay Cuts, Citigroup's CEO Jane Fraser Gets a 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. On her first day as CEO, she pledged that the bank would achieve net-zero greenhouse-gas emissionsin its financing activities by 2050. 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. Half of Frasers non-base-pay compensation derives from the PSUs. Jennifer Surane. (Source: @Citi) By 2019, she is said to have received $17.3 million in total remuneration. 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 $1.33M base salary is consistent with the annualized rate of $1.5M for the 10. Thorough reviews have been conducted to assure this data accurately reflects disclosures. Please disable your ad-blocker and refresh. In its filing Monday, Citi's compensation committee lauded Fraser's quick work in setting priorities for the bank. For its 2021 fiscal year, CITIGROUP INC, listed the following board members on its annual proxy statement to the SEC. If those targets are tough, setting pay in line with peers is therefore less like rewarding failure, and more like incentivizing competition. 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. 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Coronavirus Tips Working and Protection. 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. 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. our Subscriber Agreement and by copyright law. 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. Frasers compensation is less than that previously announced for more experienced CEOs of other big banks, which are more profitable. Fraser formally took the helm at Citi last February after being named as Mike Corbat's successor in 2020. Citi's Jane Fraser embodies Wall Street's pay gap | Nasdaq Ms. Fraser received a $1.5 million salary and a $3.45 million cash bonus, according to a. Vroom reports earnings. 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. Dive Brief: Citi paid CEO Jane Fraser $22.5 million for 2021, the bank revealed in a filing Monday. As data privacy regulations around the | 1 p.m. Far better than ending up as a troubled bank with a demotivated leader. The majority of her pay$14.82 million in restricted stock tied to performance metricsis in restricted stock. 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. Jane Fraser on Rethinking Citigroup's Mission, Inclusivity | TIME Get the free daily newsletter read by industry experts. On the surface, Citis performance explains the difference. Citigroup Inc. paid new Chief Executive Jane Fraser $22.5 million for her first year on the job. Citis closest peer is JPMorgan, whose share return isnt meaningfully different. Fraser was paid $12.5 million last year, according to a company filing, or about half of Corbat's $24 million salary. 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. Let Banking Dive's free newsletter keep you informed, straight from your inbox. Fraser's compensation is less than that previously announced for more experienced CEOs of other big banks, which are more profitable. Citigroup CEO Jane Fraser gets $22.5M pay package for 2021 She also received $16,800 in other forms of compensation. This report is not for commercial use. Type a symbol or company name. That was when it really hit me that . Fraser has since set about selling Citis retail banking businesses outside the United States, including its Mexican franchise, Citibanamex.