Citigroup management check
C · Financials · Diversified Banks · CEO Ms. Fraser
Filings as of
5 good · 1 to watch · 0 flagged, across the seven questions below.
- Good
Have owners done well?
Beat its chosen peers$100 invested at the start of fiscal 2021 grew to $226, against $203 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.98 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Good
What does the CEO cost owners?
0.7% of net income$95.8m of reported pay in fiscal 2025, against $14.3bn of net income.
- n/a
Do they own the stock?
No recent CEO filingLight activity: no buys, $265k sold in six months.
- Good
Are owners being diluted?
Share count shrinkingDiluted shares changed -2.1% a year over the last three fiscal years.
- Watch
Is leadership stable?
2 CEOs in the pay tableCEOs in the pay table: Ms. Fraser, Mr. Corbat. 3 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2025.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Financials.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 64 | 49 | |
| Pay for performance | 99 | 83 | |
| CEO cost | 64 | 67 | |
| Skin in the game | — | — | 51 |
| Dilution | 77 | 69 | |
| Stable leadership | 60 | 80 | |
| Clean books | 100 | 100 |
Closest peers
Others in Diversified Banks, by management score. Citigroup is 25th of 72 in its sector.
Pay versus performance
From the proxy statement filed April 2, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Ms. Fraser | $95.8m | $144.8m | $26.6m | $226 | $203 | $14.3bn |
| 2024 | Ms. Fraser | $31.1m | $36.9m | $26.2m | $133 | $177 | $12.7bn |
| 2023 | Ms. Fraser | $25.5m | $20.7m | $19.5m | $94 | $135 | $9.2bn |
| 2022 | Ms. Fraser | $22.1m | $16.0m | $15.6m | $79 | $121 | $14.8bn |
| 2021 | Ms. Fraser, Mr. Corbat | $20.5m | $22.5m | $13.4m | $101 | $135 | $22.0bn |
The board says pay is tied most to RoTCE. Its other key measures: TBVPS, Net Income.
Insiders and the CEO's stake
Light activity: no buys, $265k sold in six months.
- SoldJohn Cunningham DuganDirector$265kMay 8, 2026
Leadership and governance on file
- Oct 22, 2026Leadership change8-K 5.02
- May 21, 2026Leadership change8-K 5.02
- Nov 20, 2025Leadership change8-K 5.02
Latest shareholder vote results: May 21, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $54.5bn returned to owners in buybacks and dividends, 75% of net income, and $0 of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $71.9bn | $75.3bn | $78.1bn | $80.7bn | $85.2bn |
| Net income | $22.0bn | $14.8bn | $9.2bn | $12.7bn | $14.3bn |
| Stock-based pay | — | — | — | — | — |
| Buybacks | $7.6bn | $3.3bn | $2.0bn | $2.5bn | $13.3bn |
| Dividends | $5.2bn | $5.0bn | $5.2bn | $5.2bn | $5.4bn |
| Diluted shares | 2049m | 1964m | 1956m | 1940m | 1873m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.