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).
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The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy Age Jobs is delighted to announce the launch of a brand new look website for finance and accountancy professionals
The UK gender pay gap will not close until 2069 unless action is taken to tackle it now, according to new research by Deloitte