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Citi names Jane Fraser as CEO. She becomes first female to lead major American bank

This is being considered a significant move not just in Citibank's history but also the banking sector in America where no woman has led a big size bank.

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Jane Fraser Citigroup

Jane Fraser is the new CEO of Citigroup and with that she become the first woman to lead a major bank in America. Fraser who is currently in charge of Citi's consumer bank, will be taking over in February 2021 according to a press release by the bank. Jane Fraser has been at Citi for 16 years and has been in her current roles since 2019.

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The current CEO Michael Corbat said in a statement, "I have worked with Jane for many years and am proud to have her succeed me. He added, "With her leadership, experience and values, I know she will make an outstanding CEO."

Citi names Jane Fraser as CEO. She becomes first female to lead major American bank.

John C. Dugan, Chair of the Board of Directors, said, “We believe Jane is the right person to build on Mike’s record and take Citi to the next level. She has deep experience across our lines of business and regions and we are highly confident in her. Jane’s ability to think strategically and also operate a business are a unique combination that will serve our company well.”

“I am honoured by the Board’s decision and grateful to Mike for his leadership and support," said Jane Fraser. "The way our team has come together during this pandemic shows what Citi is made of. Our balance sheet is strong and our commitment to serving our clients and communities is even stronger. 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. We will invest in our infrastructure, risk management and controls to ensure that we operate in a safe and sound manner and serve our clients and customers with excellence. 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.”

jane fraser
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