Citigroup Lifts Jane Fraser's Pay to $26M
Citigroup’s shares rose nearly 14% last year after three consecutive years of declines.
Net income, however, dropped by 38% as revenue slowdowns across the bank’s markets, wealth and banking divisions were compounded by rising expenses due to investments across most of the business.
The pay package for Fraser, the only female head of a U.S. banking giant, remains the lowest of her cohort.
Goldman Sachs Group Inc. lifted pay for CEO David Solomon by 24% to $31 million, even as profit dropped by the same percentage.
Morgan Stanley’s James Gorman got a 17% bump to $37 million for his final year as CEO, while JPMorgan Chase & Co. raised Jamie Dimon’s pay 4.3% to $36 million.
Wells Fargo & Co. CEO Charlie Scharf got an 18% hike to $29 million, while Brian Moynihan was the only chief to get a cut. His pay fell 3% to $29 million.
Related: The 14 Highest-Paid CEOs in Financial Services
(Credit: Bloomberg)
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