- Citigroup (C -2.6%) last month disclosed CEO Michael Corbat's total pay of $13M for 2014, down from $14.5M the previous year. Behind the pay cut were the bank's failure to have its capital return plan approved by the Fed, and the fraud-related issues at Banamex, says the bank in its annual report.
- 2015 is looking better as Citi passed the CCAR with ease and Banamex fades further into the past.
- From the CEO's letter: "Citi is not the bank that entered, endured, or emerged from the financial crisis ... It's a vast understatement to say that we merely 'rebuilt' our capital position since the crisis. In fact, our capital strength now far exceeds even pre-crisis levels."