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Citi execs get a boost in salary

Bailed-out US bank Citigroup has boosted the base salaries for its chief financial officer John Gerspach and a global markets co-head James Forese, but still plans to pay chief executive Vikram Pandit $1 for the year.

Gerspach’s annual base salary will increase to $500,000 (£297,000), from $400,000, while Forese is receiving $475,000, compared with $225,000. Gerspach is also receiving $2.92m of stock salary for 2009, while Forese will get $5.4m and Pandit will get none.