New records

London news

Citigroup reveals pay shake-up as Corbat gets $11.5m for 2012



GLOBAL banking giant Citigroup yesterday introduced a new pay policy for top executives at the firm to more closely align salaries and bonuses with the bank’s performance.

The move, revealed in a regulatory filing yesterday, follows shareholder concerns over payouts which led to the departure of former boss Vikram Pandit after shareholders rejected his pay deal last year. Executive pay used to include a controversial profit-sharing plan, which has now been shelved.

“When our shareholders spoke last year about Citi’s compensation structure, we listened. We have stepped up our efforts to solicit feedback from investors to better understand their concerns,” chairman Michael O’Neill said. Citi said the new executive pay programme would use a “scorecard-based structure” to remove the discretionary nature of pay awards in the past.

In light of the tougher measures, shareholders agreed to award chief executive Michael Corbat $11.5m (?7.5m) for 2012, which included a $4.18m cash bonus and $6.27m of shares.


Pages: [1] [2] [3] [4] [5] [6] [7] [8] [9] [10] [11] [12] [13] [14] [15] [16] [17] [18] [19] [20] [21] [22] [23] [24] [25] [26] [27] [28] [29] [30] [31] [32] [33]

1st Choice Health 1st Class Trucking Ltd 2thefore Ltd 4th Frontier Information Systems Ltd.
77 The Hill A & A Futures Limited A & A Soft Furnishing Ltd A & B Continental Transport
A & E Contract Carpets A & F Dust Bros & Son A & F Processing Ltd. A & G Guiver
A & I Motors A & J Cleaning A & J Cleaning Services A & J Management
A & M Academic Business & Secretarial Services A & M Pearce A & R Group A & S Builders
A & S Plant Repairs A & S Support Services A 1 Electrics of Enfield Ltd. A 1 Laboratory Supplies
A 1 Screen Print Ltd. A A Coachworks A A Domestics A Andrews
A B B Building Technologies Ltd A B C Contract Services Ltd. A B C Pest Control A B O S Wedding Services
A B S Construction Chemicals Ltd A B Services & Co A Bon Vie A D I School of Motoring
A E Mobile Repairs A Enfield School Of Motoring A F C Building Service A F Motors
A F Services A F Stuart & Co. Ltd. A F White & Son A G H Heating
A G S Landscapes A Greenwood Plumbing & Heating A Hire Hat A J Acoustics Ltd.
A J Babywear A J Building Services A J Burr A J Cars
A J Irons A K Newman A L M Motors A L To P Driving School
A M P Computer Supplies A M S Acoustics A Marsh Mechanic A O K Properties
A P Builders & Contractors A P Car Services A P M A P M Electro Mechanical Services Ltd.
A P S Joinery Ltd. A Pinwill & Son A R D Systems A R G Contracts Ltd.
A Smith A Smith & Sons A Smokevend A Sprint Heating
A T Service A V Mansell A V Rillo & Co A V S Business Systems
A W Franklyn & Son A Waples A Worton & Sons A''s School Of Motoring
A.E. Mobile Mechanical & Electrical Repairs & Servicing A1 Building Services A1 Containerised Storage (Olympic Removals) Ltd. A1 Emergency Refrigeration Services
A10 Technical Services Ltd A10 Windows AA Target Tuition Aargentum Ltd.
Aarya Consulting Ltd Abacus Consulting Services Ltd Abba Antique & Modern Abbey Antiques
Abbey Industrial Supplies Ltd Abbey Lift Care Servicing Ltd Abbey Plumbing Abbey Stainless Components Ltd
Abbott,J C, Abbotts Newagents Abell Sales Ltd. Abernethy House