Citi’s Fraser Bucks Rivals as 2022 Pay Rises to $24.5 Million

Citigroup Inc. awarded Chief Executive Officer Jane Fraser $24.5 million in pay for 2022, making her the only major US bank CEO to receive a bump in compensation for the year.

In her first full year atop the company, Fraser, 55, was granted stock awards totaling about $19.6 million, a cash bonus of $3.45 million and $1.5 million in salary, the New York-based bank said in a filing Tuesday.

“Notwithstanding challenging macroeconomic and geopolitical developments, under Ms. Fraser’s leadership Citi made solid progress on each of our priorities, and the compensation committee recognizes the strategic direction that took shape during ...