jane fraser citi salary10 marca 2023
Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Citigroup directors citedFrasers ability to establish a clear set of priorities aimed at increasing long-term shareholder value among the reasons behind the compensation. Reuters->. 50% off + free delivery on any order with DoorDash promo code, 60% off running shoes and apparel at Nike without a promo code, Score up to 50% off Nintendo Switch video games with GameStop coupon code. For its 2021 fiscal year, CITIGROUP INC, listed the following board members on its annual proxy statement to the SEC. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Citi's Jane Fraser, the First Female CEO of a Major U.S. Bank, Gets $22.5 Million for 2021 . In a chefs kiss of pay excess, Dimon and Solomon each got retention bonuses of around $50 million. Of this total $1,333,333 was received as a salary, $7,912,500 was received as a bonus, $0 was received in stock options, $11,215,773 was awarded as stock and $79,718 came from other types of compensation. In January, Citi reported a profit of $4.6 billion on revenue of $16.5 billion. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. CITIGROUP INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. To any normal human, Fraser makes out like a bandit, getting 350 times more than the average New York City household https://www.census.gov/quickfacts/newyorkcitynewyork. CITIGROUP INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Citi picks Jane Fraser as next CEO first woman to lead the bank. See here for a complete list of exchanges and delays. New and used auto sales are hotter than a car left in a mall parking lot all afternoon, and online sales may be the wave of the future. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. In addition, she makes $17,313,800 as President and Chief Executive Officer at Citigroup Inc. From 2009 to 2013, Jane served as the Chief Executive Officer of Citi's Global Private Bank. CITIGROUP INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. read more. All rights reserved. Fraser's compensation is less than that previously announced for more experienced CEOs of other big banks, which are more profitable. Jane Fraser's salary per month and other career earnings are over $1.2 million dollars annually. For its 2021 fiscal year, CITIGROUP INC, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Rather, Citi typifies the habit of paying bosses of high-performing banks much more than poorly performing ones. . Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. Educated at Girton College, Cambridge, and Harvard Business School, she was a partner at McKinsey & Company for 10 years before joining Citigroup in 2004. The information shown here is a reporting of information included in the company's proxy statement. In Fraser's first year as CEO, the bank also submitted plans to the OCC and the Federal Reserve to address how to resolve its 2020 consent orders. Get the free daily newsletter read by industry experts. 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. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Ms. Fraser owns over 32,400 units of Citigroup Inc stock worth over $5,179,478 and over the last 5 years she sold C stock worth over $2,512,944. Fraser's compensation package for 2023 includes a base salary of $1.5 million, a cash incentive of $3.45 million, and deferred incentives of $8.05 million in deferred stock and $11.5 million in performance share units. "Notwithstanding challenging macroeconomic and geopolitical developments, under Ms Fraser's leadership Citi made solid progress on each of our priorities, and the compensation committee recognises the strategic direction that took shape during 2022," Citi said in its filing. 54, was granted stock awards totaling about $14.82 million, a cash bonus of $6.35 million and a $1. (Editing by Lauren Silva Laughlin and Sharon Lam). Before becoming CEO, she was . Fraser's 2022 pay package included a $1.5 million salary, a $3.45 million cash bonus and $19.6 million in stock awards, per Bloomberg. 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. She received a salary of $500,000, a bonus of $4,801,276 and stock awards of $11,995,705. Citigroup Inc. paid new Chief Executive Jane Fraser $22.5 million for her first year on the job. Her pay is still below the $34.5 million of JPMorgan & Chase Co's JPM.N CEO Jamie Dimon, and Morgan Stanley (MS.N) CEO James Gorman's $31.5 million, according to Reuters data. If those targets are tough, setting pay in line with peers is therefore less like rewarding failure, and more like incentivizing competition. Do Not Sell My Personal Information (CA Residents Only). Fraser's compensation includes a $1.3 million cash. The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. She has started to dismantle Citis decades-old sprawl, selling off retail banking divisions in Asia and Europe, and putting its Mexican arm on the auction block, but those massive changes will take a while to pay off. That could fuel analysts questions at TDs earnings call Thursday. - Fraser officially took over at Citi on Feb. 26, replacing Mike Corbat, who earned $23 million in his final full year. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Her remarkable achievements have earned her some luxurious lifestyles and some fancy car trips. Jane Fraser addresses Brazil-US Business Council forum in Washington, DC in March 2019. But both its revenue and its earnings were lower than a year earlier, as credit card users reduced their activity. Thats less sensible than it sounds. - 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. Morgan Stanleys James Gorman and Goldman Sachss David Solomon were paid $35 million each for their work last year. ; While her compensation ranks well below industry leaders the CEOs of Morgan Stanley and Goldman Sachs each made $35 million last year the package represents a 31.2% raise over the $17.15 million Fraser made as Citi's second-highest-ranking executive in 2020, according to The Wall . For non-personal use or to order multiple copies, please contact Jane Fraser, Citigroup's incoming CEO, announced a new accountability-focused team on Tuesday. You may also find the annual proxy statement by going directly to the company's website. This report is not for commercial use. If those targets are tough, setting pay in line with peers is therefore less like rewarding failure, and more like incentivizing competition. But on Wall Street, she is a poor cousin. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. CITIGROUP INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. But on Wall Street, she is a poor cousin. 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Fraserformally took the helm at Citi last February after being named as Mike Corbats successor in 2020. But Fraser starts off on the back foot, thanks to years of value destruction under predecessor Mike Corbat. ET, Presented by studioID and Dun and Bradstreet, Webinar Far better than ending up as a troubled bank with a demotivated leader. Fraser has since set about selling Citis retail banking businesses outside the United States, including its Mexican franchise, Citibanamex. Coronavirus Tips Working and Protection. She's the only CEO of a top-six U.S. bank to receive a raise last year. .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}Sign In, Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Much of the attention surrounding Frasers pay may stem from her gender. | 1 p.m. Its the only big U.S. bank stock that fell between Feb. 26, when Fraser took over, and the year end. Fraser's compensation includes a $1.3 . The proxy statement's main purpose is to alert shareholders to the annual meeting and provide them information about the issues that will be voted on during the annual meeting, including decisions such as electing directors, ratifying the selection of auditors, and other shareholder-related decisions, including shareholder-initiated initiatives. Goldman Sachs Group Inc (GS.N) CEO David Solomon and Morgan Stanley (MS.N) CEO James Gorman are both getting $35 million, while Brian Moynihan, CEO of Bank of America Corp (BAC.N), is receiving $32 million. All quotes delayed a minimum of 15 minutes. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. As data privacy regulations around the Ms. Fraser's predecessor, Michael Corbat, was paid $19.04 million by Citigroup in 2020. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Goldman Sachs Group IncCEO David Solomon and Morgan StanleyCEO James Gorman are both getting $35 million, while Brian Moynihan, CEO of Bank of America Corp, is receiving $32 million. American Airlines and its flight attendants union on Friday jointly applied for federal mediation in contract negotiations. Feb 14 (Reuters) - Citigroup Inc (C.N) Chief Executive Officer Jane Fraser will be paid $22.5 million for 2021, a 31.6% increase from the previous year when she was the president of the bank and . If a company isnt doing well, its board and investors should want the best person to clean it up. Conrad Sangma To Be Sworn In As Meghalaya Chief Minister On March 7. 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. Thats less sensible than it sounds. That's down from 29% in the first year Citi reported the figures. 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. 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). Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Before joining Citi, Jane was a Partner at McKinsey & Company. Our Standards: The Thomson Reuters Trust Principles. Of this total $1,333,333 was received as a salary, $7,912,500 was received as a bonus, $0 was received in stock options, $11,215,773 was awarded as stock and $79,718 came from other types of compensation. Track Latest News and Election Results Coverage Live on NDTV.com and get news updates from India and around the world. Jane Fraser is the Chief Executive Officer of Citi, the world's most global bank, serving millions of consumers, businesses and institutions across 160 countries and jurisdictions. JPMorgan trades at 1.8 times its book value; Citis valuation is less than half that. In its filing Monday, Citi's compensation committee lauded Fraser's quick work in setting priorities for the bank. Manish Sisodia's Custody Extended, CBI Told Not To Repeat Questions, In Karnataka, Arvind Kejriwal Twist To BJP's "Double-Engine Government", Flu Cases With Severe Symptoms Rise, Centre Issues Advisory: 10 Facts, "Grateful Adani Group Has Shown Faith In Australia": Ex PM Tony Abbott, "I Gave Up": Shark Tank Judge Namita Thapar Reveals Her Struggles With IVF, Here's How To Avoid Covid-Like Flu Sweeping Across India, "World's 1st" Bamboo Crash Barrier Installed In Maharashtra: Nitin Gadkari, Influencer Andrew Tate, Facing Human Trafficking Charges, Has Lung Cancer, Rajya Sabha MP Kapil Sibal Announces Platform To Fight Injustice. Copy and paste multiple symbols separated by spaces. NEW YORK (Reuters Breakingviews) - Jane Frasers $22.5 million package https://www.sec.gov/ix?doc=/Archives/edgar/data/0000831001/000110465922022820/c-20220210x8k.htm for running Citigroup embodies a Wall Street pay gap. On her first day as CEO, she pledged that the bank would achieve net-zero greenhouse-gas emissionsin its financing activities by 2050. Morgan Stanley shares were up around 25% over the same time. It was a Friday. Create your Watchlist to save your favorite quotes on Nasdaq.com. articles a month for anyone to read, even non-subscribers! The "global . Please. CONTEXT NEWS. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. To any normal human, Fraser makes out like a bandit, getting 350 times more than the average New York City household. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Pelosi, other stock-trading pols could avoid capital gains REBNY's new return-to-office gauge paints bright view for 'trophy' towers, Food delivery maven unveils NYC shop after dumping Mercedes mobile kitchens, US home prices just did something they haven't done since 2012, JPMorgan Chase requires some workers give 6 months notice before quitting, This Girl Scout cookie flavor is reselling for $100 online -- here's why, Celeb-loved jewelry brand Dorsey drops dazzling new styles, White Lotus actor jokes about being hit on following shows success, Is this the couple behind the Worst Art Job Listing Ever?, Undertaker transforms coffin into barbecue grill, Kellyanne Conway and George Conway to divorce, Canadian teacher with size-Z prosthetic breasts placed on paid leave. Dive Brief: Citi paid CEO Jane Fraser $22.5 million for 2021, the bank revealed in a filing Monday. But Frasers firm is less efficient, slower-growing and earns a lower return on equity. As CEO at CITIGROUP INC, Jane Fraser made $20,541,324 in total compensation. In a chefs kiss of pay excess, Dimon and Solomon each got retention bonuses of around $50 million. Feb 14 (Reuters) - Citigroup Inc (C.N) Chief Executive Officer Jane Fraser will be paid $22.5 million for 2021, a 31.6% increase from the previous year when she was the president of the bank and the head of its consumer businesses, the bank disclosed on Monday. If a company isnt doing well, its board and investors should want the best person to clean it up. 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). All proxy statements are public filings made available to the general public by the SEC. Citi veteran Jane Fraser has been named Michael Corbat's successor. Fraser has since set about selling Citis retail banking businesses outside the United States, including its Mexican franchise, Citibanamex. Amazon Pauses Construction on Second Headquarters in Virginia as It Cuts Jobs, Amazon Is Closing Its Cashierless Stores in NYC, San Francisco and Seattle, iPhone Maker Plans $700 Million India Plant in Shift From China, Stock Traders Are Ignoring Blaring Bond Alarms, S&P 500 Notches Best Week Since Late January: Markets Wrap. 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 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. Thorough reviews have been conducted to assure this data accurately reflects disclosures. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Jane Fraser net worth is estimated at around $25 million. Her main source of income is from her primary work as a business executive and CEO. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. She has been CEO of four Citi units and presently heads up a fifth and the largest, the Global Consumer Bank and is President of the entire company. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. Shes the first female CEO of a major US bank. This report is not for commercial use. our Subscriber Agreement and by copyright law. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Fraser, 54, comes to the role of CEO armed with a resume straight out of Wall Street central casting. 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. 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. Jennifer Surane. To narrow the gap in the raw data, the bank has embarked on an effort to level up to at least 40% the proportion of women in its assistant vice president through managing director roles. Please disable your ad-blocker and refresh. Continue reading your article witha WSJ subscription, Already a member? This copy is for your personal, non-commercial use only. - 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. Venture capitalists swap Paris Hilton for Al Gore, US blacklisting is no match for TikTok virality, Editing by Lauren Silva Laughlin and Sharon Lam, Theres hope beyond moaning for European telcos, Adani contrarian is a win for Hindenburg, too, Exclusive news, data and analytics for financial market professionals. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. The bulk of her compensation$14.82 millionis in restricted stock tied to performance metrics. Half of Frasers non-base-pay compensation derives from the PSUs. - 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. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Topics include: Commercial banking, payments, technology, risk, regulations, policy, Topics covered: bank/fintech relationship, banks buying fintechs, regulation, risk of neobanks and much more. Bank of America boss Brian Moynihan is in line for $32 million. JPMorgans Jamie Dimon and Bank of Americas Brian Moynihan were a whisker behind, at $34.5 million and $32 million, respectively. CEO compensation has risen steadily since the late 1970s. 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. She also received $16,800 in other forms of compensation. As data privacy regulations around the Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. During her 18-year career at Citi, Jane has held leadership roles across Citi's consumer and institutional businesses. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. As CEO at CITIGROUP INC, Jane Fraser made $20,541,324 in total compensation. Ms Fraser's total pay in 2021 was $22.5 million. She took over as the first female chief executive of a major Wall Street bank in February 2021. 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 was Citi's. Citigroup (NYSE: C) CEO Jane Fraser gets total compensation of $22.5M for 2021, the company said in a filing. Fraser formally took the helm at Citi last February after being named as Mike Corbat's successor in 2020. The Scottish-born Fraser has been with Citi since 2004 and currently oversees the banks massive global consumer banking operation. Oil Producers Hand $128 Billionto Investors as Doubts Grow About Future of Fossil Fuels, Your Saturday Briefing: Trumps Comeback Plan, Wall Street Whistles Away, British Parents Turn to Home Equity to Help Young Buy Property, Japanese Unions Seek Biggest Pay Rise in 25 Years for Workers, Sorry, Fed, Most US Mortgage Rates Were Locked In During Pandemic Lows. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Ms Fraser received $9.2m in total compensation in 2018, for her work as chief executive of Citi's Latin American operations. She also set in motion a strategy last April to withdraw from 13 retail banking markets in the Eastern Hemisphere and later added Mexico to that list. The estimated Net Worth of Jane Nind Fraser is at least $25 Million dollars as of 27 February 2018. The industry leader for online information for tax, accounting and finance professionals. But Fraser starts off on the back foot, thanks to years of value destruction under predecessor Mike Corbat. Fraser was paid $12.5 million last year, according to a company filing, or about half of Corbat's $24 million salary. Opinions expressed are those of the author. JPMorgans (JPM.N) Jamie Dimon read more and Bank of Americas (BAC.N) Brian Moynihan were a whisker behind, at $34.5 million and $32 million, respectively. Citigroup Inc. paid new Chief Executive Jane Fraser $22.5 million for her first year on the job. Follow @johnsfoley https://twitter.com/johnsfoley on Twitter. Morgan Stanley shares were up around 25% over the same time. The proxy statement's main purpose is to alert shareholders to the annual meeting and provide them information about the issues that will be voted on during the annual meeting, including decisions such as electing directors, ratifying the selection of auditors, and other shareholder-related decisions, including shareholder-initiated initiatives. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Prior, Jane was the Global Head of Strategy and Mergers & Acquisitions for Citi from 2007 to 2009. 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. Will His AI Plans Be Any Different? All quotes delayed a minimum of 15 minutes. JPMorgan Chase & Co (JPM.N) head Jamie Dimon is receiving $34.5 million for 2021. She has started to dismantle Citis decades-old sprawl, selling off retail banking divisions in Asia and Europe, and putting its Mexican arm on the auction block, but those massive changes will take a while to pay off. The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. 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. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Citis closest peer is JPMorgan, whose share return isnt meaningfully different. 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). News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. Rather, Citi typifies the habit of paying bosses of high-performing banks much more than poorly performing ones. Mike Corbat, Citigroup's chief executive, was paid $24m last year. 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. Get started NEW YORK, Feb 15 (Reuters Breakingviews) - Jane Frasers $22.5 million package for running Citigroup (C.N) embodies a Wall Street pay gap. 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. 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%. Jane Fraser talks about the critical role of cross-border data in growing Citi's revenues and future business strategy. The majority of her pay$14.82 million in restricted stock tied to performance metricsis in restricted stock. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Distribution and use of this material are governed by 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. Ms. Fraser, who .css-1h1us5y-StyledLink{color:var(--interactive-text-color);-webkit-text-decoration:underline;text-decoration:underline;}.css-1h1us5y-StyledLink:hover{-webkit-text-decoration:none;text-decoration:none;}became chief executive on March 1, 2021, was given a salary of $1.33 million and a cash bonus of $6.35 million. Not the one that runs along gender lines though Fraser does get a third less than her male peers. Ms Fraser's total pay in 2021 was $22.5 million. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Far better than ending up as a troubled bank with a demotivated leader. Type a symbol or company name. She has been tasked with simplifying the banks structure and getting its profitability on par with rivals. We've received your submission. Frasers compensation includes a $1.3 million cash salary, plus $6.4 million as a cash bonus and $14.8 million in shares payable over several years, with some of those linked to financial targets. Ms Fraser's pay rise has made her the only big US bank boss to receive a bump amid a challenging year for the industry. 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. She has been tasked with simplifying the bank's structure and getting its profitability on par with rivals. Jane Fraser, Chief Executive Officer, Citi. She worked as a Goldman Sachs analyst after receiving her degree in economics at Cambridge.. While Chiefs at other big banks, including Goldman and Morgan Stanley, took a pay cut, Citigroup Inc paid Chief Executive Jane Fraser $24.5.
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