Citi CEO: $100M Annual Pay Too Much
Vikram Pandit says $100 million annual compensation is too much for any banker.
Annual compensation worth $100 million is too much for any banker, said Citigroup CEO, Vikram Pandit, Reuters reports. The bank’s trader, Andrew Hall, is contractually entitled to a 2009 pay package that could be close to $100 million.
Citi received over $45 billion in government bailout in two separate transactions last year. The bank is still believed to be offering multi-million dollar guaranteed bonuses to some new employees.
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