financial officer Gary Crittenden was paid $24.5m (£12.25m) last year, including
a cash bonus of $14m (£7m), despite the bank’s poor performance in 2007.
Last year the bank was hit by more than $20bn (£10bn) in write-offs as the
sub-prime mortgage crisis in the US hit hard and shares plummeted by 47%. While
other Wall Street banks withheld bonuses for their management teams, Citigroup
gave at least six senior executives more than $1m (£500k), according to the
Crittenden’s remuneration package, however pales in comparison with that of
his chief executive, Vikram Pandit. He received $2.7m in pay for leading the
bank’s investment bank and alternative investments group, was given a sign on
grant of options worth $48m and $165.2m for the sale of Old Lane Partners,
bought last April for $800m, bringing the total to a staggering $216m (£108m).
Harrison Beale & Owen will (HB&O) have a new chairman and managing director at the helm for 2017
Satvir Bungar promoted to managing director in the mergers and acquisitions team
Carolyn Brown appointed as the first head of client legal services practice RSM Legal
UK senior partner Phil Verity has been elected for a second term at Mazars