Citigroup raised Chief Executive Michael Corbat's pay by an estimated 27 percent in 2015, a year in which the bank's profit more than doubled.
Corbat earned an estimated $16.5 million in 2015, including deferred shares worth about $4.5 million. He earned $13 million in 2014.
Deferred stock makes up about 30 percent of Corbat's bonus pay under Citi's executive compensation plan, which was overhauled three years ago amid shareholder pressure.
Citi's net income more than doubled to $17.2 billion in 2015, its highest since 2006, as Corbat works through his plan to exit businesses where profits and prospects are not worthwhile.