Jane Fraser makes history as Citi’s next CEO

By William Girling
Following Michael Corbat’s announcement that he is stepping down as Citi’s CEO, Jane Fraser has been selected by the board as his successor...

Following Michael Corbat’s announcement that he is stepping down as Citi’s CEO, Jane Fraser has been selected by the board as his successor.

Officially the first female CEO of a leading Wall Street investment bank, Fraser’s ascension is a landmark decision, with the company ruling that the depth and breadth of her experience more than qualify her to take over leadership from Corbat.

“The Board deeply appreciates Mike’s many contributions to Citi, and he will leave the firm in a much stronger position than he found it,” stated John C. Dugan, Chair of the Board of Directors.

“I have worked with Jane for many years and am proud to have her succeed me. With her leadership, experience and values, I know she will make an outstanding CEO,” Corbat himself added.

Serving clients and making communities stronger

Currently the President of Citi and holding responsibilities across every aspect of consumer business in 19 countries, including mortgages, retail and wealth management, Fraser’s 16-year career, which began as ‘Head of Client Strategy’, as been long and well-developed.

Having earned an MA in Economics from the University of Cambridge (1985 to 1988) and an MBA from Harvard Business School (1992 to 1994), she has both the education and resume befitting a leader of one of the world’s largest banking organisations.

“I am honoured by the Board’s decision and grateful to Mike for his leadership and support. The way our team has come together during this pandemic shows what Citi is made of,” she said in the company’s press release.

“I will do everything I can to make all of our stakeholders proud of our firm as we continue to build a better bank and improve our returns.

“Citi is an incredible institution with a proud history and a bright future. I am excited to join with my colleagues in writing the next chapter,” she concluded. 

Share

Featured Articles

Opus CEO TM Praveen on shaping the future of payments

With a 25-year legacy, Opus is shaping the future of payments technology and is a trusted payments modernisation partner for key players in the ecosystem.

From bootstraps to jetpacks: fintech's top 10 founder-CEOs

We round up the Top 10 fintech founders who, having built their business from nothing, have then steered them through multi-billion dollar growth.

Why customer loyalty platforms are more like typewriters

Loyalty programmes are like typewriters, Comarch says. You have the tools to create something great, but you still have to put in the hard yards yourself.

Women in Fintech: Annelyse Fournier, COO of PDX Global

Crypto

Women in Fintech: Sasha Pilch of Fin Capital talks assets

Venture Capital

Struggling to scale? Fintech decacorns and the downturn

Banking