Who got the biggest pay bump on Wall Street (it's not Jamie Dimon)
Published On Feb 22, 2025, 2:02 PM
Citigroup CEO Jane Fraser received the largest pay increase among Wall Street executives, with a total compensation of $34.5 million for 2024, up from $26 million in 2023. This increase reflects her successful navigation of the bank towards improved safety and profitability, resulting in Citigroup's stock outperforming its peers with a 20% increase. Other bank executives, such as Goldman Sachs' David Solomon and JPMorgan's Jamie Dimon, also saw substantial compensation packages, but Fraser's raise was the most significant. Citigroup reported revenue growth across all its divisions but faced some regulatory challenges and lowered return targets for the future.
Stock Forecasts
C
Positive
Citigroup has shown strong performance in the stock market, driven by improvements in its core divisions and overall financial health. The substantial increase in CEO compensation suggests confidence from the board in Fraser's strategic execution moving forward, which may further incentivize positive shareholder sentiment. Given the performance trends and market conditions, Citigroup likely remains well positioned for continued growth.
GS
Neutral
As competitor banks also reported increases in compensation, it could indicate a general uptrend within the financial services sector, especially regarding interest rates and economic conditions under the current administration. However, risks associated with regulatory compliance may pose challenges in the near term despite current performance.
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