Jane Fraser net worth is estimated at around $25 million. 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. Jane Fraser's salary per month and other career earnings are over $1.2 million dollars annually. Want to share a company announcement with your peers? Ms. Fraser's predecessor, Michael Corbat, was paid $19.04 million by Citigroup in 2020. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. Create your Watchlist to save your favorite quotes on Nasdaq.com. Morgan Stanley shares were up around 25% over the same time. As CEO at CITIGROUP INC, Jane Fraser made $20,541,324 in total compensation. Citigroup Inc. paid new Chief Executive Jane Fraser $22.5 million for her first year on the job. All quotes delayed a minimum of 15 minutes. The bank paid Fraser $22.5mn for her work in 2021, when she took over as CEO at the end of February, replacing Mike Corbat, reported Financial Times. On that front, Axis Bank has emerged as the front-runner to acquire Citi's consumer-banking footprint in India in a deal that could be worth $2.5 billion, according to Bloomberg. 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. Morgan Stanleys (MS.N) James Gorman read more and Goldman Sachss (GS.N) David Solomon were paid $35 million each for their work last year. 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. 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. 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. Thanks for contacting us. 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. In its filing Monday, Citi's compensation committee lauded Fraser's quick work in setting priorities for the bank. Citigroup Inc. paid new Chief Executive Jane Fraser $22.5 million for her first year on the job. 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. Fraser has since set about selling Citis retail banking businesses outside the United States, including its Mexican franchise, Citibanamex. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. 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. 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. Written by 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. Opinions expressed are those of the author. The information shown here is a reporting of information included in the company's proxy statement. 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. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. 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. Thats less sensible than it sounds. JPMorgan Chase & Co (JPM.N) head Jamie Dimon is receiving $34.5 million for 2021. Fraser's rise is the result of a multiyear effort at Citi, the $74. 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). However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Ms Fraser's total pay in 2021 was $22.5 million. The estimated Net Worth of Jane Nind Fraser is at least $25 Million dollars as of 27 February 2018. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. 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In addition, she makes $17,313,800 as President and Chief Executive Officer at Citigroup Inc. 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. NEW YORK, Feb 15 (Reuters Breakingviews) - Jane Frasers $22.5 million package for running Citigroup (C.N) embodies a Wall Street pay gap. 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. - 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. American Airlines and its flight attendants union on Friday jointly applied for federal mediation in contract negotiations. Ms Fraser received $9.2m in total compensation in 2018, for her work as chief executive of Citi's Latin American operations. https://www.wsj.com/articles/citigroups-jane-fraser-gets-22-5-million-for-first-year-as-ceo-11644877691. From 2009 to 2013, Jane served as the Chief Executive Officer of Citi's Global Private Bank. 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. 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. This information is according to proxy statements filed for the 2021 fiscal year. The information shown here is a reporting of information included in the company's proxy statement. She is the. , 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 California Weighs $360,000 in Reparations to Eligible Black Residents. 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. Morgan Stanley shares were up around 25% over the same time. - 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. Her remarkable achievements have earned her some luxurious lifestyles and some fancy car trips. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. 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. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. JPMorgan trades at 1.8 times its book value; Citis valuation is less than half that. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Citigroup Inc. paid Chief Executive Jane Fraser $24.5 million for 2022, up 9% from the prior year. 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Citi CEO Jane Fraser shares her perspective on banking's shifting leadership landscape and the opportunity for diverse styles on CNBC Closing Bell: "I hope to 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. All proxy statements are public filings made available to the general public by the SEC. However, women make 99% of what men do when they're given the same titles and have similar levels of experience, Citi said. Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. read more. CITIGROUP INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. - 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. I vividly remember March 6 last year. Fraser's compensation is less than that previously announced for more experienced CEOs of other big banks, which are more profitable. Topics include: Commercial banking, payments, technology, risk, regulations, policy, Topics covered: bank/fintech relationship, banks buying fintechs, regulation, risk of neobanks and much more. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV. On the surface, Citis performance explains the difference. Musk Made a Mess at Twitter. Prior, Jane was the Global Head of Strategy and Mergers & Acquisitions for Citi from 2007 to 2009. The industry leader for online information for tax, accounting and finance professionals. 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. Fraser has since set about selling Citis retail banking businesses outside the United States, including its Mexican franchise, Citibanamex. Thorough reviews have been conducted to assure this data accurately reflects disclosures. Far better than ending up as a troubled bank with a demotivated leader. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Frasers compensation breaks down to a $1.33 million annual salary, a $6.35 million cash incentive, $4.23 million in deferred stock that vests over four years and $10.58 million in performance share units (PSUs). JPMorgans Jamie Dimon and Bank of Americas Brian Moynihan were a whisker behind, at $34.5 million and $32 million, respectively. Ms. Fraser, who became chief executive on March 1, 2021, was given a salary of $1.33 million. On the surface, Citis performance explains the difference. 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. For its 2021 fiscal year, CITIGROUP INC, listed the following CEO pay ratio data on its annual proxy statement to the SEC. But on Wall Street, she is a poor cousin. Please disable your ad-blocker and refresh. Coronavirus Tips Working and Protection. All proxy statements are public filings made available to the general public by the SEC. 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. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. This report is not for commercial use. Thorough reviews have been conducted to assure this data accurately reflects disclosures. 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. (The author is a Reuters Breakingviews columnist. The compensation committee took into account the company's return of almost $12B in capital to its common shareholders, growth of its book value per share of 7% to $92.21, and CET1 capital ratio of 12.3%. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. . Thats up from 35% last year. Jane Fraser addresses Brazil-US Business Council forum in Washington, DC in March 2019. Incentives matter too. Jane Fraser, Citigroup's incoming CEO, announced a new accountability-focused team on Tuesday. Ms Fraser's total pay in 2021 was $22.5 million. During her 18-year career at Citi, Jane has held leadership roles across Citi's consumer and institutional businesses. 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. CITIGROUP INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Citigroup reported a 21% decline in fourth-quarter profit in January 2022, which missed forecasts. 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.