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Sir Winfried Bischoff is a notable figure in finance, having held important roles at Citigroup, including Interim CEO in 2007. Before that, he was Chairman of Citi Europe and Chairman of Schroders plc. In 2007, during his short time as...

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Sir Win Bischoff

Ex-CEO of Citigroup

Education

Bachelor's degree from the University of the Witwatersrand.

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Financial Services

Born

May 10, 1941 - 83 years ago

CEO of Citigroup for

0 years 1 month (Nov 2007 - Dec 2007)

Previous Experience

Chairman of Schroders plc, Chairman of Citi Europe.

Holdings

See how much did Sir Win Bischoff make over time.

Sir Winfried Bischoff held significant stock with Citigroup. At one point, he had over 855,000 shares with about 432,000 being exercisable stock options. His wealth was closely tied to the bank's stock performance, especially during his tenure as Interim CEO....

Insider Trading

See recent insider trades of Sir Win Bischoff.

No insider trades found for this CEO.

Compensation History

See how much did Sir Win Bischoff make over time.

In 2007, Sir Win Bischoff’s total compensation reached $6,191,542 despite being the Interim CEO for only part of the year. His salary was $373,734, which was relatively modest compared to the total package. The standout part of his compensation was a significant discretionary cash bonus of $1,950,000 awarded for his leadership during a turbulent period for Citigroup. However, he received no stock awards or options, emphasizing the uncertainty that year for the bank and its executives. His pension value saw a notable increase of $500,808, reflecting the benefits under Citigroup's pension scheme. Overall, his compensation was heavily front-loaded with immediate cash rather than long-term incentives, which is typical for executive roles during times of crisis. This choice might speak volumes about the bank's outlook during that period and the need for immediate risk management rather than future rewards.

Year

2007

Total Compensation

$2.82M

Salary

$373.73K

Board Justification

Citi’s compensation philosophy emphasizes pay for performance, aligning executive compensation with the company's performance and stockholder interests.

Bonus

$1.95M

Board Justification

This amount is a discretionary cash bonus paid in January 2008 for performance in 2007.

Other

$500.81K

Board Justification

The change in pension value for Sir Winfried’s benefit under the Citigroup Global Markets Limited Pension and Life Assurance Scheme RBS Section for 2007 was $500,808.

Restricted Stock

$0.00(0 N/A)

Board Justification

No stock awards were earned by Sir Winfried Bischoff under the LTIP for 2007, and the amount shown in the Summary Compensation Table includes the charges for his January 2008 CAP awards and the 2007 amortization charge for the LTIP.

Performance Metrics

Citi's performance metrics for determining compensation included financial performance such as revenue growth, expenses, net income, return on equity, and total return to stockholders.