Citigroup Cut CEO's Pay by 6% Last Year

The video discusses the financial performance and compensation of bank executives, focusing on Brian Moynihan's significant raise due to his successful year at Bank of America, and Mike Corbitt's pay cut at Citigroup due to decreased profits and shareholder dissatisfaction. It also explores the potential benefits of deregulation for banks, particularly under Trump's administration, and how Bank of America benefits from interest rate changes due to its loan and deposit structure.

What was the main reason for Brian Moynihan's significant raise?

• His ability to reduce costs significantly.

• The expansion of the bank into new markets.

• The bank's highest profit in over a decade.

• His successful marketing strategies.

Why did Citigroup decide to cut Mike Corbitt's pay?

• Because of a new CEO taking over.

• Due to a 14% decline in profits.

• To align with industry pay standards.

• As a result of a merger with another bank.

What measure did Citigroup implement to address shareholder concerns?

• Increased dividends.

• A pay cap on the CEO's equity portion.

• A new bonus structure.

• Stock buyback program.

How does deregulation benefit banks according to the transcript?

• By expanding international operations.

• By increasing customer deposits.

• By improving customer service.

• By reducing compliance costs.

Why is Bank of America particularly sensitive to interest rate changes?

• Due to its focus on investment banking.

• Due to its large number of international branches.

• Because it primarily deals with corporate clients.

• Because of its high number of non-interest bearing deposits.