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).
Mark McMullen joins the private client services team from Smith & Williamson
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February
BDO has taken its new partner intake to 23 during the first half of its financial year, including the appointment of five partners in five weeks
The firm reports 7.6% global fee income growth for the year ending 31 December 2016