Jane Fraser is a Scottish-American banking executive. She is currently serving as the president of Citigroup. She is also the CEO of Consumer Banking. Citigroup announced in September 2020 that she would take over as the CEO of the entire corporation replacing Michael Corbat. She will take her new position in February 2021 and will become the first woman to head a major Wall Street bank. Previously, she was a partner at McKinsey & Company for 10 years.
What is Jane Fraser’s claim to fame?
Citigroup’s current President.
In February 2021, he will take over as CEO of the entire Citigroup company.
Jane Fraser’s origins are unknown.
Jane Fraser was born on July 13, 1967, in New York City. Her hometown is St. Andrews, Scotland, where she was born. She is of Scottish and American descent. She is of white descent and follows the Christian faith. At this time, there is no information about her family, parents, or early life. It will be revised as soon as possible.
She went to Girton College in Cambridge for her studies. In 1998, she received a BA in economics (which was later upgraded to an MA according to tradition). Before enrolling at Harvard Business School, she worked for a variety of businesses. In 1994, she graduated from Harvard Business School with a master’s degree in business administration.
Citigroup’s Jane Fraser
She worked as a mergers and acquisitions analyst at Goldman Sachs in London after earning her BA in economics.
From July 1988 to July 1990, she worked there.
She then worked as a brokerage associate for Asesores Bursatile, a Madrid-based securities firm.
From August 1990 to June 1992, she worked there.
In 1992, she enrolled at Harvard Business School and graduated with an MBA in 1994.
She joined McKinsey & Company after graduating from Harvard in 1994.
She began her career with the company in financial services and corporate strategy.
She gradually rose through the ranks of the company to become a partner.
For the first six years of her career, she worked for McKinsey & Company in New York.
She then spent four years working for the corporation in London. When raising her young children, she only worked part-time.
She wrote about globalization in her journals.
Race for the World: Strategies to Build a Great Global Firm was co-authored by her in 1999.
She interviewed McKinsey clients about their global challenges in several Asian countries for the book, including
China, Hong Kong, Indonesia, Singapore, and India.
Michael Klein, a Citigroup executive, urged Fraser to join the firm.
In July 2004, Fraser left McKinsey & Company to join Citigroup.
She entered Citigroup’s investment and global banking division as Head of Client Strategy.
In October 2007, she was promoted to Global Head of Strategy and Mergers and Acquisitions.
She was in charge until May 2009.
In June 2009, she was appointed CEO of Citi Private Bank.
At the time of her appointment, the bank was in the midst of a $250 million annual deficit.
During her four-year term, it returned to profitability.
She made the reforms to reduce the ratio of private bankers to clients, with a goal of one banker per 30 clients, and to eliminate fees and sales formulas for bankers in favor of a year-end discretionary bonus.
In 2013, she was appointed CEO of CitiMortgage.
Citigroup’s mortgage division under her leadership coincided with a decline in demand for mortgage refinancing around the board, prompting the bank to refocus its energies on selling residential mortgages to home buyers. In September 2013, Citigroup closed several mortgage offices around the country and laid off 1,000 staff.
In March 2014, she was appointed CEO of US Consumer and Commercial Banking.
In April 2015, she was elected CEO of Citigroup Latin America. She was in charge of activities in 24 nations.
In October 2019, she was appointed President of Citigroup and Head of Global Consumer Banking (GCB).
Following Michael Corbat’s retirement in February 2021, Citigroup announced in September 2020 that Fraser will take over as CEO of the entire company. She’d be the first woman to lead a top-tier investment bank.
Husband of Jane Fraser
Jane Fraser is a married woman with two children. Alberto Piedra is her husband. Her husband was born in Cuba. During the financial crisis of 2008, her husband quit his job as a bank manager in Europe to spend more time with their young children. Fraser worked part-time at the time in order to concentrate on his family. They have two sons together.
Jane Fraser’s Net Worth and Salary at Citi
Jane Fraser is a high-ranking bank executive. She worked for McKinsey & Company for ten years before joining Citigroup in 2004. She rose through the ranks to become Citigroup’s President and CEO of Consumer Banking. When she takes over as CEO of Citigroup in February 2021, she will be the first female to lead a big Wall Street bank. She definitely collects a sizable salary as a top bank executive. By 2019, she is said to have earned $17.3 million in gross compensation. She received a salary of $500,000, a bonus of $4,801,276 and equity awards of $11,995,705. She also received $16,800 in other forms of compensation. In February 2021, she will take over as CEO of Citigroup as a whole, and she will certainly make a bigger impact than she has so far. According to proxy statements submitted for the 2019 fiscal year, this information is accurate. Her net worth will be revised in the near future.
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