Citigroup Boosts Pandit's Base Salary to $1.75 Million From $1

Citigroup Inc., the third-largest U.S. bank by assets, said it increased Chief Executive Officer Vikram Pandit’s base salary to $1.75 million from the $1 he earned for each of the past two years.

Pandit, who has led the New York-based bank since December of 2007, “has worked tirelessly to put Citi back on the right track, spearheading a restructuring that has returned the company to profitability and positioning the company for future growth,” Chairman Richard Parsons said in a statement today.

The new salary is effective immediately, according to the statement.

To contact the reporter on this story: Donal Griffin in New York at

To contact the editor responsible for this story: David Scheer at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.