Million dollar bonus for bank boss – male colleagues are still better off. Citigroup even posted a loss of $1.8 billion in the fourth quarter of 2023.
In September, CEO Jane Fraser unveiled plans for a massive restructuring of the group to boost profits and reward shareholders. 2024 should be a ‘turning point’ for the banking giant, as Jane Fraser explained. She wants to reduce bureaucracy in the vast Citi empire and make the financial institution more profitable. At the top is James Gorman, the head of Morgan Stanley, with a salary of $37 million.