Top 4 Citi execs get $42.2 million in 2010 compensation

By @ibtimes on

Citigroup Inc has paid four of its top executives, excluding Chief Executive Vikram Pandit, a combined $42.2 million in 2010 compensation, according to a regulatory filing filed on Monday.

Chief Financial Officer John Gerspach received $7 million in cash and stock salaries as well as long-term restricted stock awards for compensation last year, Citigroup said in a filing with the U.S. Securities and Exchange Commission.

Chief Operating Officer John Havens was paid $14.25 million, while Manuel Medina-Mora, head of consumer banking for the Americas, received compensation of about $12 million and Michael Corbat, head of Citi Holdings, received $9 million.

Pandit pledged in 2009 to take an annual salary of $1 until the bank returned to sustained profitability. In January, Citigroup's board raised his salary to an annual base of $1.75 million after Citigroup reported its first full-year profit since 2007.

(Reporting by Soyoung Kim; Editing by Gary Hill)

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