She is taking ‘Citi’ by storm and Wall Street too. Meet Jane Fraser, the first woman to lead a major financial institution in the United States as she is set to take over the reins at Citigroup, the country’s third largest bank. Fraser will succeed Michael Corbat as Chief Executive of Citigroup in February 2021.
Being a part of Citigroup for 16 years, Fraser now breaks the illusion of top posts being dominated by men. The CEO in waiting has shaken off long standing trends, where women have never made it to top posts. Fraser sets a new trend as she becomes part of wall street history, fighting hard and showing competence in the male dominated world of banking.
The challenge for Fraser as CEO of one of the leading banks in the United States will be to steer the course for the bank to sail through one of the worst economic crises in decades post the COVID-19 pandemic and subsequent global lockdown.
However, Fraser has seen tough times before in her 16 year stint with the bank. This will be one of the bigger challenges as Fraser takes on the mantle from Corbat who retires in February next year. Wall Street is watching and so are other women who Fraser hopes to inspire!