Citigroup CEO Jane Fraser s compensation increased by around 6% in 2023. She took home $26 million, even as the US bank reported a fourth-quarter loss of $1.9 billion
The latest step in the bank s reorganisation was announced on Monday, with Citi s CEO, Jane Fraser, saying that "the actions we re taking to reorganize the firm involve some difficult, consequential decisions" according to a memo sent to staff and seen by Reuters.
The Appointments Committee of the Cabinet has approved Subrahmanyam s appointment for a period of two years from the date of assumption of the charge of the post, a Personnel Ministry order said.
in the next hour or so. meantime, stocks are higher. stock up following the news of pandit s departure. a story that still has a lot more questions than answers at this point. we ll keep you up to speed on this still developing story as the day g the highs right now. a very mixed day. you have some bank stocks higher. jpmorgan, for one, inside the dow. bank of america is lower. walmart is lower. intel among technology stocks higher. energy is higher today. so no clear trend for this market, but the dow at 13,536. technology powered higher by apple, which is up more than 2%. they announced they re going to hold a meeting next week to introduce perhaps the mini ipad. nasdaq is up a percent, the stronger of the major averages. the s&p is up 12 points. as we mentioned, a big story right now has to be citigroup chairman michael o neil and michael corbat hosting a conference call on the shake-up. that s scheduled for 4:30 p.m. eastern time. we ll have that for you coming up here. y