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Citigroup approved US$42 million in total compensation for CEO Jane Fraser for 2025, up about 22 percent from the prior year, a regulatory filing cited by Reuters showed.
Fraser’s total compensation for 2024 stood at US$34.5 million.
For 2025, the package consists of a US$1.5 million base salary and US$6.075 million in cash incentive pay, with the remaining portion granted as deferred awards.
In the filing, Citigroup said the decision reflected record performance across its core businesses, progress in resolving regulatory issues and an evaluation of CEO compensation against industry rivals.
Citigroup shares climbed 65.8 percent in 2025, outperforming major U.S. banking peers as well as an index tracking bank stocks.
The pay award comes as Citi continues executing a multi-year workforce reduction strategy.
In January, the bank moved ahead with about 1,000 job cuts, according to people familiar with the matter and a Bloomberg report at the time.
The reductions form part of a broader plan first outlined in 2023 to eliminate 20,000 roles by the end of 2026 as the lender works to simplify its organisational structure and lower expenses.
Citigroup reported approximately 229,000 full-time employees as of 31 December 2024, underscoring the scale of the restructuring still underway.
Featured image: Edited by Fintech News Singapore, based on image by Frolopiaton Palm via Freepik
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