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Citigroup Inc. (NYSE:C) has announced the appointment of Nicole Giles as its new Chief Accounting Officer, effective February 21, 2025, according to an 8-K filing with the U.S. Securities and Exchange Commission. Giles, 53, will also take on the role of Controller at the financial services giant immediately. The appointment comes as Citigroup, with its substantial market capitalization of $158.8 billion, trades near its 52-week high of $84.67, having delivered an impressive 59.58% return over the past year. InvestingPro analysis indicates the stock is currently undervalued based on its proprietary Fair Value model.
Giles brings extensive experience from her tenure at J.P. Morgan Chase & Co., where she has worked since 1996. Her previous roles include Controller & Chief Accounting Officer from 2017 to 2020 and most recently, Chief Financial Officer for Commercial & Investment Banking since March 2024.
In her new position at Citigroup, Giles will receive a base salary of $500,000 annually, along with approximately $13.7 million in deferred equity and cash awards, which are set to vest through January 2029. Her compensation package aligns with Citigroup’s plans and policies as detailed in the company’s 2024 Proxy Statement for its Annual Meeting of Stockholders.
Giles’s appointment follows the departure of Robert Walsh, who served as Citigroup’s interim Chief Accounting Officer. She also replaces Patrick Scally, who was the interim Controller.
The changes in Citigroup’s executive team come at a time when the banking industry is undergoing significant transformation, with a focus on digital innovation and regulatory compliance. InvestingPro subscribers can access 12 additional key insights about Citigroup’s financial health, which currently rates as FAIR according to InvestingPro’s comprehensive scoring system. Get the full analysis and detailed Pro Research Report, available exclusively with an InvestingPro subscription.
The information in this article is based on a press release statement.
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