Citigroup shareholders voted to approve the pay packages of the bank's top executives, giving a shot of confidence to chief executive Michael Corbat in a year in which his firm has suffered setbacks.

At the annual shareholder meeting here, investors voted by an 85% margin to approve the compensation packages of Corbat and other top executives, according to preliminary company calculations of the nonbinding advisory vote. The pay packages approved included those of co-president Manuel Medina-Mora, risk and strategy head Brian Leach, and chief financial officer John Gerspach.