Citigroup Inc., which hired Viswas Raghavan as its new head of banking earlier this year, has granted the executive shares worth about $41 million at their current value.
Raghavan, 57, who reports directly to Chief Executive Officer Jane Fraser, got about 623,838 shares, according to a filing. Citigroup’s stock closed at $65.71 apiece on Thursday.
The award is to replace compensation Raghavan gave up when he left JPMorgan Chase & Co. to join Citigroup, according to the filing. The award vests in six installments, from January 2026 through 2031. None of the award is eligible for immediate sale.
Fraser poached Raghavan as part of her broader revamp of the US lender. Citi shares have rallied 39% in the past year, mirroring gains at rivals like Bank of America Corp., Wells Fargo & Co. and JPMorgan.
The Financial Times reported the stock award earlier.
Short sellers previously said the company was under investigation, though Roblox denied allegations.
The Consumer Financial Protection Bureau is in the crosshairs of the Republican group that is widely attempting to dismantle government agencies.
National Securities Corp. sued the advisor in 2020, alleging breach of contract and unjust enrichment.
Recent data support a measured pace by the Federal Reserve for the year ahead.
Financial advisors are still adding alternatives despite the surge in publicly traded stock prices
From 'no clients' to reshaping wealth management, Farther blends tech and trust to deliver family-office experience at scale.
Blue Vault features expert strategies to harness for maximum client advantage.