Citigroup Lifts Jane Fraser’s Pay to $26 Million
- Wall Street CEO gets pay bump as she plans to cut 20,000 roles
- Citi saw a 38% drop in net income last year while shares rose
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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 boost profitability.
The New York-based bank awarded Fraser a total of $1.5 million in salary and $24.5 million in stock-based and cash incentive awards for 2023, it said in a filing Tuesday. Fraser, who’s been in her post since March 2021, was the only major bank CEO to get a raise for 2022, a move largely attributed to it being her first full year running the company.