Citigroup announced that Jane Fraser will be successor of Michael Corbat as the bank’s next chief executive, making Fraser the first woman ever to lead a Wall Street bank.
Fraser is currently head of Citi’s global consumer banking division, which is a major part of the bank that includes checking and savings accounts but also Citi’s massive credit card business. She is working with Citi for 16 years now.
Fraser will be the first woman to lead one of Wall Street’s big six banks. JPMorgan Chase’s Jamie Dimon has had women as his second-in-command for years, but shows no signs of stepping down from the CEO role.
