Jane Fraser's 2023 pay at Citigroup is increased by 6% to $26 million.
The lender announced that it increased Chief Executive Officer Jane Fraser's compensation by approximately 6% to $26 million for the year 2023.
According to the filing, her pay consisted of a $1.5 million base salary, a $3.7 million cash bonus, and $20.8 million in deferred performance-linked stock.
The board of the bank determined Fraser's compensation based on her successful implementation of significant changes to the organizational and management structure since the 2008 financial crisis and the sale of international businesses.
The board acknowledged the need for further work while commending Fraser's efforts to resolve risk management issues resulting in regulatory penalties from 2020.
The compensation of CEOs on Wall Street, including Jamie Dimon, James Gorman, and John Stumpf, rose by 4.3%, 17%, and 24%, respectively.
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