Update: Citigroup Paid CEO Weill $127.8 Mln in Stock, Cash and Options

March 05, 2001, 2:00 a.m. EST 1 Min Read

Bloomberg News

NEW YORK Citigroup Inc., the biggest U.S. financial services company, paid Chairman and Chief Executive Sanford Weill $127.8 million in salary, bonus, stock and stock options in 2000, the company said in a U.S. Securities and Exchange Commission filing.

Weill also exercised stock options valued at $196.2 million, according to the filing.

Weill's pay in 2000 included salary of $1 million, bonus of $18.5 million, stock awards of $8.7 million and stock options that the company valued at $99.2 million.

MORE FROM AMERICAN BANKER

Regulation and compliance

FDIC Board debates, then withdraws asset manager control proposals

The FDIC Board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.

By Ebrima Santos Sanneh

13m ago
Regulation and compliance

Why Texas has its own account with the Federal Reserve

The state's Comptroller of Public Accounts is one of several notable non-depositories with access to the Fed's payments system, along with the Chicago Mercantile Exchange and the Tennessee Valley Authority. So why do they have accounts while some neobanks don't?

By Kyle Campbell

20m ago
Originations

Mortgage rates rise on weak economic news

Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.

By Brad Finkelstein

21m ago
Fraud

Mortgage fraud attempts surge by more than one-third

While home lenders are seeing a decrease in issues coming through mobile channels, phone fraud spiked last year, accounting for 28% of losses, a new report found.

By Spencer Lee

2h ago
Community banking

Insurance deal too rich for Trustmark to pass up, CEO says

The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.

By John Reosti

April 24
Consumer lending

Synchrony hikes interest rates on credit cards to offset late-fee rule

The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.

By Polo Rocha

April 24