A filing from the Securities and Exchange revealed that Robert Joss, who joined the institutionâs board in July of last year, would be occasionally asked to work in the consultancy post to receive the wage.
The statement quoted a letter written by Citigroup vice-chairman Lewis Kaden, who said the board member would be expected to work âa minimum of approximately three weeksâ.
Mr Joss told Bloomberg: âThere are people who go out there and give speeches for $50,000 a speech, and I guess in some ways I think thereâs a lot of value added, but thatâs really up to the company to decide.â
âItâs not something I have to do. But Iâm putting in a lot of time, and it seems like itâs fair.â
According to the news provider, the board member will receive the money in addition to a salary of $225,000 and deferred stock.
Citigroup is currently 27 per cent owned by the US government after it relied on $45 billion of taxpayer money to survive the global financial crisis.