Citigroup's full-year profit increased 6.4 percent in 2011, the second year the company was profitable under CEO Vikram Pandit. Last year, when the bank's shares fell 44 percent, Pandit had a base salary of $1.75 million and a retention plan valued at more than $40 million, Bloomberg BusinessWeek reported. In July, he received the remaining $80 million of the $165 million from Citigroup's buyout in 2007 of his hedge fund, Old Lane Partners LP.
In December, Pandit announced Citigroup will lay off 4,500 employees, about 1.5 percent of its 267,000 employees, for which the bank took a $400 million charge in the fourth quarter.
Options Group's November report predicted an average compensation decline globally of 33 percent in the investment banking sectors of fixed income, currencies and commodities; of 29 percent in the equities sector; and of 14 percent in investment banking. The only sectors that were forecasted to have increases, in the single-digits, were private wealth management and electronic trading.