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Citigroup CEO Jane Fraser's compensation increased by around 6% in 2023. She took home $26 million, even as the US bank reported a fourth-quarter loss of $1.9 billion
Fraser in September initiated the biggest restructuring of Citigroup in decades
The workforce reductions, which the bank has said may continue around the globe into next year
The debt ceiling turmoil is "more worrying" than previous events, Fraser said at the Milken Institute Global Conference.
Fraser said the fast demise of Silicon Valley Bank also made it difficult for banks to assess and prepare bids for its assets. Speaking just two weeks after the California-based lender collapsed under the weight of tens of billions of withdrawals by its venture capital clients, Fraser said her firm hopes a buyer will emerge in the coming days.
The incoming CEO’s skills, attitude and global perspective will come in handy as she turns her attention to what could be one of the biggest clean-up jobs of her career
Jane Fraser, who has been with the bank for 16 years, is the President of Citi and the CEO of Global Consumer Banking.
Fraser is currently head of Citi's global consumer banking division, a major part of the bank that includes checking and savings accounts but also Citi's massive credit card business. She's been with Citi for 16 years.
