Citigroup increased CEO Fraser’s pay for 2022, FT reports

Citigroup increased CEO Jane Fraser’s pay for 2022 to $24.5M, making her the only big U.S. bank CEO to receive a pay raise during a challenging year for the industry, Joshua Franklin of The Financial Times reports. Fraser’s pay consisted of a $1.5M base salary and $23M bonus paid in a mix of cash, stock, and performance share units, a regulatory filing showed, according to the Times. Meanwhile, in 2021, Fraser’s pay was $22.5M. In the regulatory filing, Citi argued that "under Ms Fraser’s leadership Citi made solid progress on each of our priorities," which attributed to the pay raise. Reference Link