Citigroup Inc. has raised CEO Jane Fraser's pay by 6% to $26 million for 2023, amid a major overhaul that includes laying off 20,000 employees and a simplification of operations. The pay raise comes in a year when Citigroup's profits fell by 38%, and the bank announced plans for a dramatic restructuring expected to result in around 20,000 job cuts. Despite the increase, Fraser's new compensation is the lowest among CEO rivals at major banks. The overhaul has also seen significant departures, including Conor Davis, a senior sales executive at Citigroup's trading unit.
Citigroup CEO Jane Fraser got a 6% pay bump for her performance in 2023, a year the bank's profits dropped 38% and Fraser began a dramatic restructuring that will result in an estimated 20,000 job cuts. The $26 million for Fraser was the lowest among CEO rivals at big banks. https://t.co/Mur2TSSJCG
Citigroup CEO Jane Fraser got a 6% pay bump for her performance in 2023, a year the bank's profits dropped 38% and Fraser began a dramatic restructuring that will result in an estimated 20,000 job cuts. https://t.co/lqvFw4qsMg
Conor Davis, one of the most senior sales executives at Citigroup’s trading unit, is leaving the Wall Street giant as CEO Jane Fraser pushes through a vast overhaul. https://t.co/XNGrfybQ3x
Citigroup raises CEO Jane Fraser’s pay 6% to $26m on overhaul plans https://t.co/VocnLduBmV
CITI CEO FRASER POCKETS $26m BY SACKING 20,000 EMPLOYEES...WELL DONE (Bloomberg) -- Citigroup Inc. lifted Chief Executive Officer Jane Fraser’s pay about 6% to $26 million for a year in which she kicked off a major overhaul of the Wall Street giant to simplify operations and…
Citigroup raises CEO Jane Fraser's 2023 pay by 6% to $26 million https://t.co/rJf2qlRWlf https://t.co/AVRIAykFdr
Citigroup, amid layoffs, gives CEO Jane Fraser bigger pay raise than Jamie Dimon https://t.co/nRUKjIZSMY https://t.co/JEmb7DgEcH