Fraser Jane (Jane Fraser)

Fraser Jane (Jane Fraser)

Biography

2020: Position assignment of the president of Citigroup

In the middle of September, 2020 it became known that Jane Fraser, the president of the third largest American bank Citigroup, will release Michael Corbat from the CEO's duty in February, 2021. Fraser will become the first woman who headed such large financial institution of the USA.

Jane Fraser works in Citigroup 16 years and directs the largest global division of the company, consumer bank servicing individual clients. Fraser also supervised divisions of retail banking activities and operations in Latin America. Its success on a post of the chief head of mortgage business of Citi laid a way to further promotion to a position of the president of bank in 2019 and to new appointment in 2021.

Among merits Fraser it is possible to note restructuring of retail division after sale of broker office Smith Barney in 2012 and support of business of mortgage lending in tough times from 2013 to 2015. In Latin America under its management Citigroup invested several billion dollars in the Mexican division of Banamex.

I consider that now Jane is a high time to head City to provide the next step in the future. I work hard with Jane years and I am proud of the fact that she became my successor. It is sure that with her leadership skills and experience she will become the outstanding CEO — Michael Corbat noted.

According to the November report of Oliver Wyman consulting firm, women made 26% of all bosses of financial services of the USA in 2019 that is 6% higher, than in 2016. However the financial industry still is where to aim - according to CNN, women hold the leading posts less than in 10% of the companies from the list of Fortune 500.^[1]

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