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Jane Fraser Named CEO of Citi, Breaking Wall Street’s Glass Ceiling
Jane Fraser (MBA 1994) was named the next CEO of Citigroup on Thursday. When she takes the reins in February, she will become the first woman to lead a major American bank.
Fraser will replace Michael Corbat, who was named CEO in 2012, when the bank was still reeling from the 2008 financial crisis. “I have worked with Jane for many years and am proud to have her succeed me,” Corbat said in a statement. “With her leadership, experience and values, I know she will make an outstanding CEO.”
Fraser is currently in charge of the Citi’s consumer bank. In her 16 years at the firm she also led the Latin American division and its corporate strategy and M&A group.
“I am honored by the Board's decision and grateful to Mike for his leadership and support,” Fraser said in the statement. “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.”
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