Citigroup Inc. Chief Executive Vikram Pandit received a total compensation of $14.9 million for 2011, including salary, cash bonus and deferred stock.
According to the regulatory filing made by the firm with the Securities and Exchange Commission, he has received a paycheck of $1.67 million, a cash bonus of $5.33 million, $4 million in deferred stock and about $4 million in deferred cash.
Following the dismal financial condition of Citi in 2009, Pandit had cut down his salary to $1.
Last week it was announced that Richard Parsons would quit as chairman of the firm at its annual meeting in April, and Michael O'Neill, the former chief executive of Bank of Hawaii Corp, would succeed him. It was also confirmed that Pandit would continue as chief executive of Citigroup.
"Under Vikram Pandit's leadership, Citi has made remarkable progress. It has emerged from the financial crisis a well-capitalized institution with a clear strategy," Parsons had commented.
In 2011, revenue decreased to $78.4 billion, which is a 9.5 percent fall from the previous year. Citi had stated in the filing that 2011 was a challenging year specifically for securities and banking and also for its capital markets division.
SOURCE IBTimes
