Citigroup announced on Thursday that Jane Fraser will succeed retiring CEO Michael Corbat in February. She will become the first woman to lead a major Wall Street bank. Citigroup is the third-largest bank in the country.
Fraser, who has been at Citi for 16 years, currently serves as the President and CEO of Consumer Banking. The retail banking head also served as the CEO of Citi’s Latin America Region from 2015-2019.
“The way our team has come together during this pandemic shows what Citi is made of,” Jane Fraser said in a press release. “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.”
This announcement was quite expected after Fraser was named CEO of Citi’s Consumer Banking division las...