Jane Fraser, Citi’s President and CEO of Global Consumer Banking, has been selected as CEO of the Citi Bank. She has been at Citi for 16 years and in her current roles since 2019. Citi CEO Michael Corbat on Thursday announced that he plans to retire from Citi and step down from its Board of Directors in February.
From 2012 to 2019, Citi’s net income increased from $7 billion to nearly $20 billion, and Return on Tangible Common Equity increased from 5 per cent to over 12 per cent closing the gap with its peers.
Jane Fraser said: “We will invest in our infrastructure, risk management and controls to ensure that we operate in a safe and sound manner and serve our clients and customers with excellence. Citi is an incredible institution with a proud history and a bright future.”
Jane Fraser is currently the President of Citi. Her global responsibilities include all consumer businesses in 19 countries, including retail banking and wealth management, credit cards, mortgages and the associated operations and technology.
Jane Fraser is a member of the Board of Dean’s Advisors at Harvard Business School, serves on Stanford University’s Global Advisory Council and is a member of the Council on Foreign Relations. Jane has an M.B.A. from Harvard Business School and an M.A. in Economics from Cambridge University. She is married with two children.