Citi boosts base salaries for some senior employees

By IBTimes Staff Reporter | November 17 2009 3:48 PM

Citigroup Inc said on Tuesday it boosted the base salaries for its chief financial officer and a global markets co-head, but has left Chief Executive Vikram Pandit's salary unchanged.

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CFO John Gerspach will receive a base salary of $500,000, up from its prior level of $400,000, while James Forese will receive $475,000, compared with $225,000.

The office of Kenneth Feinberg, the Obama administration's special master for Troubled Asset Relief Program executive compensation, approved the moves, Citigroup said.

Pandit will receive a base salary of $1 a year, unchanged from last year. Stephen Volk, vice chairman, will receive a base salary of $500,000, also unchanged.

(Reporting by Dan Wilchins; Editing by Richard Chang)

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