Citi chief executive's pay bumped up to $26 million

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 ...