Tag: Citigroups

What Citigroup’s new female CEO Jane Fraser means for business and the next generation

Citigroup’s announcement this week that Jane Fraser would become its next CEO is leading to applause nationwide. She is now the first woman to lead a major bank.

This comes as no surprise – especially with COVID changing so much of the way we live now and the #BlackLivesMatter movement calling for unprecedented action relating to women, diversity and equal opportunity.

CITI CEO MICHAEL CORBAT TO RETIRE IN FEBRUARY

And indeed, there are a host of incredible women in banking driving growth and innovation – from U.S. Bank’s Kate Quinn to Bank of America’s Cathy Bessant, to name a few.

But the implications are far greater than just having a woman at the top.

This generation has made a seismic shift in equality – something that is

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Citigroup’s ‘strategic thinker’ Fraser breaks glass ceiling

By Pete Schroeder, David Henry and Svea Herbst-Bayliss

WASHINGTON/NEW YORK (Reuters) – Jane Fraser made history on Thursday when she became the first female global bank chief executive, a role she will take up next year when Citigroup Inc’s current CEO Michael Corbat will step down.

Fraser, 53, who grew up in Scotland, navigated some of the world’s most cut-throat corporate environments, including Goldman Sachs, Harvard Business School and McKinsey & Company, before joining Citigroup in 2004.

During her time at the bank she has helped execute some of its divestitures, including the staggered sale of its Smith Barney brokerage, and was often assigned to fix problems in the bank’s operations, ranging from its U.S. mortgage business to its Mexico operations.

She became president and chief executive of global consumer banking last year.

“She’s very, very intelligent and a thoughtful, strategic thinker. She’s a consensus builder who listens to everyone

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