Citigroup bonuses: A PR problem?
At some of the most prestigious investment banks, the top dogs received no bonuses as punishment for a rotten 2007. You might have assumed Citigroup would be among that list. According to its proxy statement however, it handed out generous bonuses to some, including a $10.4 million bonus to Charles Prince when he left. The New York Times also notes Sallie Krawcheck, who runs global wealth management, took home nearly $3 million in bonus money. CFO Gary Crittenden took home $14 million. CEO Vikram Pandit and three of highest ranking execs were not given bonuses, but received generous retention awards that strike some as unnecessary. Some shareholders may take issue with this.
For more:
- here's the article from the New York Times
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