Citigroup CEO Jane Fraser received a 6% pay increase to $26 million in 2023, despite a 38% profit drop.

Citigroup CEO Jane Fraser received a 6% pay increase to $26 million in 2023, despite the bank's profits dropping by 38%. Fraser has led a significant restructuring process, including an estimated 20,000 job cuts. The pay increase reflects the board's confidence in Fraser's strategic priorities and her ability to drive long-term sustainable growth, despite her compensation being the lowest among peers in the US banking sector.