Citigroup's shareholders approve 2024 pay for CEO, executives, new shares for grants

1 month ago 11

Tatiana Bautzer and Niket Nishant

Tue, Apr 29, 2025, 8:02 AM 1 min read

During the meeting, immoderate shareholders questioned the full size of compensation. One specifically questioned bonuses for what the slope calls "transformation", that includes enactment to comply with regulators' consent orders from 2020 and 2023 demanding hazard reduction. Bonuses were paid adjacent arsenic the slope received a $136 cardinal successful fines past twelvemonth for deficiency of advancement successful fixing information flaws.

Citigroup's president John Dugan said the committee had held absorption "accountable" by reducing the outgo of the translation bonus successful 2024 and said the bonus programme volition not beryllium renewed. Despite the criticism, the wage bundle was easy approved.

Citigroup CEO Jane Fraser said expenses for regulatory fixes volition inactive beryllium higher this twelvemonth but are expected to autumn from 2026 on.

Fraser said the bank's restructuring she led implicit the past years has made it much resilient to economical changes and volatility. "The satellite is connected the cusp of heavy structural change", Fraser said, referring to caller U.S. economical policies.

Citigroup's nett surged successful the archetypal 4th arsenic its traders reaped a windfall from volatile markets that fueled lawsuit activity.

The issuance of 30 cardinal caller shares to beryllium utilized arsenic adaptable compensation payments besides was approved by much than 90% of shareholders, arsenic good arsenic the reelection of the committee of directors.

All the shareholders' proposals, including 1 that required a bounds to severance packages, were rejected, the slope said.

(Reporting by Tatiana Bautzer and Niket NishantEditing by Tomasz Janowski)

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