Jane Fraser to take over as Citi CEO - first woman to head a leading Wall St. bank

She has been with Citi for 16 years and was long seen a CEO candidate

Last updated: September 10, 2020 | 17:10

1 MIN READ

Long tipped to lead a leading Wall Street institution, Jane Fraser has been named as Citi's next CEO. She will take over next February.

Bloomberg

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New York: Citigroup Inc CEO Michael Corbat will step down in February 2021, after 37 years with the bank, and will be succeeded by President Jane Fraser, making her the first-ever woman executive to head a major Wall Street bank.

Fraser has been seen as a rising star on Wall Street, and last year was seen as a CEO candidate by Wells Fargo & Co's board. The bank eventually settled on former JPMorgan executive Charles Scharf.

A 16-year veteran at Citi, who first joined to run client strategy in the investment bank, Fraser was promoted to the role of president in October last year. She had been running the bank's Latin America business, including its Citibanamex division in Mexico, before that.