Michael L. Corbat served as the CEO of Citigroup from October 2012 to February 2021. With a solid background in finance, Corbat joined Citi in 1983 and held various leadership roles across the company before becoming CEO. He oversaw significant...
Michael L. Corbat served as the CEO of Citigroup from October 2012 to February 2021. With a solid background in finance, Corbat joined Citi in 1983 and held various leadership roles across the company before becoming CEO. He oversaw significant parts of the business, including consumer banking in Europe, the Middle East, and Africa, and led Citi Holdings, dealing with non-core businesses. Corbat took the helm as CEO during a challenging period after the financial crisis and focused on making Citi a safer, simpler, and stronger bank. Under his leadership, the company improved its financial stability, increased capital returns to shareholders, and enhanced risk management practices. His total compensation in 2020 was $22 million, a reflection of the company's focus on performance-based pay, aligning with shareholder interests. Corbat announced his retirement in 2020, making way for Jane Fraser, who became the first female CEO of a major American bank. He holds a bachelor’s degree in economics from Harvard University, which set the foundation for his successful career in banking.