Citigroup CEO scores a 48% raise to $23 million [CNN]
Citigroup, Inc. (C)
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Source: CNN
Citigroup CEO scores a 48% raise to $23 million Citigroup boss Michael Corbat just got a huge raise. Corbat scored $23 million in total pay last year, the bank said on Friday. That's a cool 48% above what he made in 2016. The pay hike underlines Citi's ( C ) success in bouncing back from its near-death experience during the 2008 financial crisis. Citi's board of directors said it considered the bank's "strong operating performance," Corbat's "exceptional leadership" and "market levels of pay for the CEO role at peer institutions." Corbat's compensation consists of $1.5 million in base salary and $21.5 million in incentives, including cash, deferred stock and restricted shares. Big bank stocks enjoyed a strong year as Wall Street placed wagers on faster growth, higher interest rates and lighter regulation. Citi stock soared 26% last year and hit a nine-year high last month. Related: Blankfein: Odds of a 'bad outcome' for economy have gone up Citi lost $6.2 billion in 2017, but t
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