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- Citi veteran Jane Fraser has been named Michael Corbat's successor. She has been CEO of four Citi units and presently heads up a fifth and the largest, the Global Consumer Bank and is President of the entire company. Her route to being the first woman to head a top 5 U.S. bank included stops at Goldman and McKinsey.
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Jane Fraser will become the first woman to lead a major U.S. bank after she was named as the CEO-designate following the retirement of longtime boss Michael Corbat.
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- A Career Marked by Job Shifts That Taught Lessons
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While that would be a milestone in the biggest financial league there is, Fraser has experience with being “first” in the banking business. In June 2015 Fraser became the first foreigner andthe first woman to serve as CEO of Citigroup’s Latin American operations. That includes running Citibanamex, a huge assignment, including oversight of an organi...
Fraser took a master’s in economics at the University of Cambridge in 1988 and became an M&A analyst at Goldman Sachs in London at 20. She’d always been something of a “nerd,” in her own words, and she found herself in a diverse U.K. financial office where she was “the boring British girl.” Everyone around her came from places in Europe that sounde...
Ultimately a comment from one of many mentors she’s been fortunate to have helped her with such decisions. Said the mentor: “Your life is going to have several careers, so take the pressure off yourself about doing everything at once.” The hope for success with some normality led Fraser to take a consulting position with McKinsey — “not a walk in t...
As her sons came to school age, Fraser returned to full-time work, taking the Citi acquisitions post. Of the London Private Banking job that followed, Fraser stepped into a situation where the division was losing money, but she turned it around. She found the work itself fascinating. “By definition the clients you face are more successful than you’...
While Fraser will have broad organizational scope as Citi President, the global retail position will also focus her attention on an area that has long been central to Citi, consumer banking. Citi strategy has evolved over time, and geographic reach, once a key element of the company’s planning, has been refined in an effort to blend geographic pres...
Sep 10, 2020 · Citigroup announced on Thursday that its CEO Michael Corbat will be retiring come February 2021 — and his successor will be Jane Fraser. She has been elected to Citi's board, effective...
- Taylor Borden
- Henry Blodget
Sep 10, 2020 · Corbat, 60, will be replaced by Jane Fraser, 53, currently the firm's president and CEO of its consumer banking division. Fraser's elevation to CEO of Citigroup marks the first time a woman has...
- Henry Blodget
Sep 10, 2020 · Jane Fraser will become the first woman to run a major Wall Street bank, succeeding Michael Corbat as Citigroup chief executive when he retires in February.
Sep 10, 2020 · Wall Street giant Citi announced Thursday that its CEO Michael Corbat will retire after an eight-year tenure as CEO; he’ll be replaced by Jane Fraser, currently Citi’s President and retail...
Sep 10, 2020 · Citigroup announced on Thursday that its CEO Michael Corbat will be retiring come February 2021 — and his successor will be Jane Fraser. She has been elected to Citi's board, effective...
