CitiGroup Inc chief executive Jane Fraser was handed a 6% pay increase in 2023 to US$26 million as the bank planned its largest restructuring in decades. Fraser was paid a US$1.5 million base salary and granted a US$24.5 million bonus ahead of the reshuffle, which is set to see 20,000 jobs cut over the coming months. Citi laid out the plans to cut its workforce by 10% last month, with this set to take place by 2025 or 2026. News of Fraser’s pay increase also comes after Citi reported a US$1.8 billion quarte ...

Citigroup increased Chief Executive Officer Jane Fraser’s compensation by about 6% to $26 million for 2023, the lender said in a filing on Tuesday.Her pay was comprised of a base salary of $1.5 million, cash bonus of $3.7 million and $20.8 million in deferred performance-linked stock, according to the filing.Fraser’s compensation was determined by her execution of “the most consequential set of changes to its organizational and management model since the 2008 financial crisis” and the sale of international ...

Citigroup (C) closed the latest trading day at $55.42, indicating a +1.04% change from the previous session's end. The stock exceeded the S&P 500, which registered a loss of 0.6% for the day. Elsewhere, the Dow lost 0.17%, while the tech-heavy Nasdaq lost 0.92%.The the stock of U.S. bank has risen by 3.8% in the past month, leading the Finance sector's gain of 3.63% and the S&P 500's gain of 3.56%.Analysts and investors alike will be keeping a close eye on the performance of Citigroup in its upcoming earnin ...

ymgerman Introduction From what I can tell, Citigroup has only three listed "preferreds" still outstanding after calling many of the others since 2000. One is a standard Preferred Stock, the Citigroup Inc. DEP SHS 1/1000 J (C.PR.J). The other is a debenture known as Trust Preferred stock: Citigroup Capital XIII - FXDFR PFS REDEEM 30/10/2040 USD 25 (CPRN). After a brief overview of Citigroup itself, I will compare the two Citigroup listed issues and render my verdict as to the better investment at this point ...

Citigroup Inc. has dawn an upgrade to overweight from neutral at Piper Sandler as analysts praised an effort underway by Chief Executive Jane Fraser to simplify the bank. “Though the turnaround will likely have some bumps along the way, we like [Fraser’s] more targeted view of the company,” analyst R. Scott Siefers said in a research note on Wednesday. Siefers... Master your money. Subscribe to MarketWatch. Get this article and all of MarketWatch. Access from any device. Anywhere. Anytime. Subsc ...

NEW YORK--(BUSINESS WIRE)--Today, Citi has announced that it has successfully completed a proof of concept on tokenization of private funds along with Wellington Management and WisdomTree. The proof of concept, which was conducted on the Avalanche Spruce institutional test Subnet, found that smart-contract capabilities could deliver new functionality and operational efficiencies, which are currently unavailable with traditional assets. These new functionalities could enable buy- and sell-side institution ...

Citigroup (C) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Over the past month, shares of this U.S. bank have returned +1.7%, compared to the Zacks S&P 500 composite's +3.7% change. During this period, the Zacks Banks - Major Regional industry, which Citigroup falls in, has gained 0.6%. The key question now is: What could be the stock's future direction?Although media reports or rum ...

Troubles for Citigroup Inc. (C) do not seem to end. The bank, which had begun revamping its underlying technology, risk management and internal controls as part of remediation highlighted by the Office of the Comptroller of the Currency (“OCC”) and the Federal Reserve, is now being pushed by regulators to make urgent changes in the way it measures default risk of its trading partners.In addition to this, the bank’s own auditors have found issues with a proposal to improve internal oversight, as reported by ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

NEW YORK--(BUSINESS WIRE)--Citi Securities Services announces the launch of Financial Information eXchange (FIX) API connectivity on ACES1 – the bank’s online, global ETF portal that fully automates the entire ETF process. Borne out of a successful client pilot, the new integration offers more simplified order management and onboarding. Authorized participants are now able to connect directly to the ACES platform and manage ETF share creation and redemptions in a more seamless manner. FIX refers to a co ...