Citigroup CEO Jane Fraser's pay rises to $42 million after banner year

By Ateev Bhandari

Feb 13(Reuters) - Citigroup C.N said on Thursday it had approved $42 million for CEO Jane Fraser's total compensation for 2025, up nearly 22% from a year earlier.

Investors have cheered Fraser's efforts to streamline management, cut jobs and sell businesses, boosting the stock 65.8% last year. It outperformed peers and an index tracking bank stocks .BKX by a wide margin.

The move follows similar hikes for top bosses at rivals Goldman Sachs GS.N and Morgan Stanley MS.N, as Wall Street giants gear up for what is widely expected to be a bumper year for dealmaking.

The $42 million pay package puts Fraser, the first woman to lead a major U.S. bank, among one of the highest-paid chief ‌executives on Wall Street.

Wells Fargo's WFC.N Charlie Scharf was paid $40 million in compensation for 2025, while JPMorgan Chase's JPM.N Jamie Dimon received $43 million.

Goldman Sachs' GS.N David Solomon received $47 million in compensation last year, Morgan Stanley's MS.N Ted Pick was paid $45 million.

In a filing explaining the compensation, Citigroup highlighted record revenues across its core businesses, regulatory progress, and comparable pay for CEOs at similar financial institutions.

The compensation includes $1.5 million of base salary, $6.075 million in cash incentive and the rest in deferred incentives, the bank said on Thursday. Fraser had received $34.5 million in total compensation in 2024.

Reuters reported last week that Citigroup executives are becoming more optimistic that they will be able to finish compliance work on major regulatory punishments.

The lifting of the consent orders would be a monumental shift and enable Citigroup to sharpen its focus on profit growth after six years of intensive compliance work involving thousands of employees.