Jul 12, 2024 03:18 PM IST
Citigroup hired Viswas Raghavan as its new head of banking earlier this year.
Citigroup has granted Viswas Raghavan shares worth about $41 million at their current value. Citigroup hired Viswas Raghavan as its new head of banking earlier this year. The 57-yer-old reports directly to Chief Executive Officer Jane Fraser. He got about 623,838 shares, as per a filing by Citigroup whose stock closed at $65.71 apiece on Thursday.
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The award is to replace compensation that Viswas Raghavan gave up when he left JPMorgan Chase & Co. to join Citigroup, as per the filing. The award vests in six installments from January 2026 through 2031 and is eligible for immediate sale.
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Citigroup shares have rallied 39% in the past year similar to gains at rivals like Bank of America Corp., Wells Fargo & Co. and JPMorgan.
