Citigroup’s Jane Fraser to be the first woman CEO of Wall Street bank
On Thursday, Citigroup Inc. (C.N) named Consumer Banking Head Jane Fraser as the bank’s next chief executive officer. She would be the first woman to lead a major Wall Street bank.
“I’m often asked, ‘Can you have it all? Can you do it all?’ And I say, ‘Yes, you can, but you can’t do it all at once and don’t expect everything at once,” Jane Fraser said in an event hosted by an international business society.
Jane Fraser was known for her achievements in investment banking, wealth management, and mortgage workouts and strategies in Latin America.
The financial services company said that Fraser would replace CEO Michael Corbat in February 2021.
Citigroup’s annual profits were doubled under Corbat’s term. However, rival banks have done better.
Citigroup’s shares rose by 43% during Corbat’s tenure, versus 63% to 188% for its Wall Street peers.