Jane N. Fraser
Also at Citigroup Inc
About
Jane N. Fraser is recognized for her extensive experience in the financial industry, having built a career that spans more than two decades at C. She started her journey in 2004 and steadily progressed through multiple leadership positions, gaining expertise in strategy, private banking, consumer operations, and international markets.
At the helm as the first woman CEO of a major global bank since March 2021, she has steered the company with a focus on risk management, regulatory compliance, and sustainable business practices. Her leadership reflects a blend of strategic vision and operational excellence that has redefined the bank’s approach to global finance.
In addition to her corporate responsibilities, she plays an active role in influential financial and policy circles through her participation in organizations such as the Council on Foreign Relations, and advisory boards at Harvard Business School and Stanford University. This involvement underscores her commitment to shaping industry trends and advancing financial discourse.
Overall, her journey is a testament to her dedication, strategic insight, and ability to drive transformative change at C, marking her as a trailblazer in the financial world.
$C Performance Under Jane N. Fraser
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Citigroup Inc. | President of Citi | October 2019 - February 2021 | Former role; held until promotion |
| Citigroup Inc. | Chief Executive Officer, Global Consumer Banking | 2019 - 2020 | Former role |
| Citigroup Inc. | Chief Executive Officer, Citi Latin America | 2015 - 2019 | Former role |
| Citigroup Inc. | CEO, U.S. Consumer and Commercial Banking and CitiMortgage | 2013 - 2015 | Former role |
| Citigroup Inc. | Global Head of Citi Private Bank | 2009 - 2013 | Former role |
| Citigroup Inc. | Global Head of Strategy and Mergers & Acquisitions | 2007 - 2009 | Former role |
External Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Council on Foreign Relations | Member | N/A | Active board role |
| Harvard Business School | Board Member, Board of Dean's Advisors | N/A | Active board role |
| Stanford University | Advisory Board Member | N/A | Active advisory role |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Base Salary | $1.5 million | Cash | Fixed base salary for 2024 |
Performance Compensation
Cash Incentive
| Details | Information |
|---|---|
| Amount | $4.95 million |
| Percentage | 15% of total incentive award |
| Payment | Cash (no vesting schedule) |
*No additional performance metrics or thresholds provided for the cash component. *
Deferred Incentive
This component is a blend of Deferred Stock and Performance Share Units (PSUs) with a total incentive award of $33 million.
Deferred Stock
| Details | Information |
|---|---|
| Amount | $11.55 million |
| Percentage | 35% of total incentive award |
| Vesting | Vests ratably over four years subject to performance conditions |
Performance Share Units (PSUs)
| Details | Information |
|---|---|
| Amount | $16.5 million |
| Percentage of Total Incentive | 50% |
| Performance Metrics | - Weighted Average Return on Tangible Common Equity (50% weight) |
| - Cumulative Tangible Book Value Per Share (50% weight) | |
| Payout Range (Threshold/Target/Cap) | 0% to 150% of target PSUs; capped at 100% if TSR is negative |
| Vesting Schedule | Vests after three years (performance period from 2025 to 2027) |
| Grant Date | February 13, 2025 |
| Grant Date Fair Value/Stock Price | $81.432 (calculated using the five-day average closing price) |
| Additional Details | Dividend equivalents accrue and are paid on earned PSUs; PSUs settled in cash |
In summary, the performance compensation for 2024 comprises a cash incentive and a deferred incentive with both fixed and performance-based elements. Actual payouts for the deferred components depend on the achievement of the outlined performance metrics and conditions as detailed above.