Citigroup Chief Executive Jane Fraser got a roughly 6% year-over-year raise last year, bringing her total 2023 compensation to $26 million, the bank said on Tuesday, citing what it said were her \u201csound\u201d strategic priorities. <\/p>\n
Fraser\u2019s total compensation package for 2023 included a $1.5 million base salary, a $3.675 million cash incentive and around $20.8 million in deferred incentives, like deferred stock and performance share units.<\/p>\n
That figure wasn\u2019t as high as some of her CEO counterparts at other large banks. But Citigroup The filing also said she had taken steps to address regulatory concerns. The Federal Reserve in 2020 told Citi to tighten up its risk-management controls. In a related action at that time, the Office of the Comptroller of the Currency hit the bank with a fine. <\/p>\n The filing on Tuesday also cited what it said were \u201cthe most consequential set of changes to its organizational and management model since the 2008 financial crisis.\u201d <\/p>\n Under her leadership, the bank has shed management layers, created a \u201cclient organization\u201d more directly responsible for handling clients, and reorganized the company so that its top business leaders reported directly to her. <\/p>\n Shares of Citigroup were up 0.2% after hours, after finishing 1% higher during regular trading hours. <\/p>\n While the stock is up 11% over the past 12 months, it is still down over the past three years, and still well down from levels before the 2008 financial crisis. The company last year grew sales by 4%, but net income fell 38% from 2022. <\/p>\n JPMorgan Chase & Co. Goldman Sachs
\n C,
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\n in a filing<\/a>, said that under Fraser\u2019s leadership, the bank had taken big strides to simplify operations \u2014 through a pullback from its markets outside the U.S. \u2014 strengthened its wealth business and improved shareholder returns. <\/p>\n
\n JPM,
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\n \u00a0is giving<\/a> Chief Executive Jamie Dimon $36 million in compensation for last year, up from $34.5 million in the prior year. Wells Fargo
\n WFC,
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\n said its board approved $29 million for CEO Charlie Scharf. That was the same amount approved for Bank of America Corp.
\n BAC,
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\n CEO Brian Moynihan, which was down slightly from 2022. <\/p>\n
\n GS,
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\n Chief Executive David Solomon\u2019s compensation last year was $31 million<\/a>. For Morgan Stanley CEO James Gorman, that figure was $37 million<\/a>. <\/p>\n<\/p><\/div>\n<\/div>\n