![]() “I am honored by the Board’s decision and grateful to Mike for his leadership and support,” Fraser said in the statement. And even as Citi made its historic announcement, Christine Lagarde, the president of the European Central Bank, was briefing reporters during a press conference. In the public sector, Janet Yellen led the Federal Reserve, the most powerful central bank in the world, from 2014 to 2018. (KEY) in 2011, making her the first female CEO of a top 20 US bank. Marianne Lake was hired as chief financial officer of JPMorgan Chase Sallie Krawcheck served as a senior executive at Citi and Bank of America History has been made today.”įraser, a 16-year veteran of the bank, was made the heir apparent in October when Citi elevated her to the role of president.įraser follows in the footsteps of other high-ranking women in finance. “Citigroup is leading by example by adding diversity to the top of the firm when our country is crying out for this more than ever before. “This is a groundbreaking for Wall Street, banking and finance,” Mike Mayo, banking analyst at Wells Fargo, told CNN Business. Even the largest US banks have reported sharp declines in profit as they brace for a wave of defaults during the pandemic. While Corbat helped stabilize Citi following the Great Recession, Fraser will be taking over one of the nation’s largest banks at a time of vast economic uncertainty. ![]() “With her leadership, experience and values, I know she will make an outstanding CEO.” “I have worked with Jane for many years and am proud to have her succeed me,” Corbat said in a statement. Jane Fraser will become Citigroup's next CEO in February Rodrigo Capote/Bloomberg/Getty Images
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