Citigroup Inc. has increased Chief Executive Officer Jane Fraser’s compensation by about 6% to $26 million in 2023, the financier said in a Tuesday filing.
Her salary consisted of a base salary of $1.5 million, a cash bonus of $3.7 million and deferred performance shares of $20.8 million, according to the filing.
Mr. Fraser’s compensation was determined by the implementation of “the most significant set of changes to our organization and operating model since the 2008 financial crisis” and the sale of our international operations, the bank’s board wrote.
While the board “recognizes there is significant additional work to be done”, it noted Mr Fraser’s efforts to fix risk management issues to address regulatory penalties dating back to 2020. .
Among Wall Street peers, JPMorgan Chase & Co. CEO Jamie Dimon’s pay rose 4.3%, former Morgan Stanley CEO James Gorman’s pay rose 17%, and Goldman Sachs CEO James Gorman’s pay rose 17%. CEO David Solomon received a 24% pay increase.
Citi stock, which closed Tuesday at $55.42, is up nearly 8% since the beginning of the year.
