UPDATE 1-Citigroup CEO gets $24 mln as compensation in 2018 [Reuters (UK)]
Citigroup, Inc. (C)
Last citigroup, inc. earnings: 4/15 08:00 am
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Source: Reuters
Citigroup CEO gets $24 million as compensation in 2018 | Reuters 2 Min Read (Reuters) - Citigroup Inc said on Friday its Chief Executive Michael Corbat will get a 4.35 percent raise, bringing his total compensation for 2018 to $24 million. Corbat’s total compensation included a base salary of $1.5 million plus cash bonuses of about $6.75 million, equity awards of nearly $7.88 million, and a long-term performance based pay worth $7.88 million. Members of the board said they considered the bank’s earning operating performance, and market levels of pay when deciding his compensation. A year earlier, Corbat enjoyed a 48 percent raise for a total annual compensation of $23 million as the bank grew adjusted profit by 4 percent. In 2018, the bank exceeded its goal for returns on investment but fell short of its efficiency target due to revenue pressure at the end of the year. The bank reported a 2018 efficiency ratio of 57.4 percent, shy of Corbat’s 57.3 percent goal. Its ROTCE of 10.9 perce
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