Here's your summary from Citi's New Banking Chief Gets $41 Million in Stock (https://www.youtube.com/watch?v=FTY1GLhfPcY) on the Bloomberg Television channel:
**TLDR:** Citi's new banking chief received $41 million in stock as compensation for leaving JPMorgan, aiming to boost Citigroup's presence in the investment banking industry.
1. The $41 million stock grant is a significant pay package by Wall Street standards, allowing the new hire to potentially buy his own private island.
2. CEOs of other major banks typically earn in the range of $20 to $30 million annually, making this hire from JPMorgan at the highest levels a notable move for Citigroup.
3. The stock award vests in six installments from 2026 to 2031, with none eligible for immediate sale, indicating a strategic approach to retaining top talent with "golden handcuffs."
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