Charles "Chuck" Prince, the deposed head of Citigroup, is in line to walk away from the Wall Street giant with a total pay, perks and shares payout worth just under $100 million, it has emerged.

The payout for Mr Prince, who stays on as a consultant until the end of the year, include a pro-rata cash "incentive award" currently estimated to be worth $12 million.

It also includes $10,716,469 in restricted share awards and $16,046,703 in stock options that will automatically vest at his departure.

Mr Prince, whose exit was sealed late last week, already owns 1.61 million shares in Citi, currently worth about $53 million.

Although Mr Prince's payday is a bonanza by most standards, it still falls far short of the $161 million collected by his investment banking rival Stan O'Neal at Merrill Lynch.

Both men were "retired" from their positions in the wake of multi-billion dollar losses against their exposure to the sub-prime mortgage markets and related turmoil in the credit markets.

Citi has already taken a $6 billion hit and estimated a further $8 billion to $11 billion could follow. Merrill wrote down $7.9 billion but said last night that its exposure had reached $27.2 billion.

Mr Prince received total compensation last year of around $25 million. Mr O'Neal, Wall Street's second-highest paid banker, collected a package worth about $48 million.

Under the terms of the severance deal negotiated with Mr Prince, Citi will provide him with an office, an administrative assistant, and a car and driver for the next five years, unless he finds a fresh job beforehand.

Mr Prince's pension entitlement, currently valued at about $1,427,648, remain intact, according to filings to the Securities and Exchange Commission, the US regulator, made by Citi last night.

Mr Prince's departure, unusually for a Wall Street exit, is not effective immediately. Instead, he will stay on until the end of the year to provide advice to the chairman of the board and the acting chief executive, Sir Win Bishoff.

Citi said it would match for his consultancy work the pay and perks he received before his resignation as chairman and chief executive.

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