9.10.20
The Wall Street Journal just reported that Citigroup’s Jane Fraser will succeed Michael Corbat as CEO.
Jane Fraser will become the first woman to run a major Wall Street bank, succeeding Michael Corbat as Citigroup Inc. chief executive when he retires in February.
Citigroup tapped Ms. Fraser to serve as the bank’s president and to run its global consumer bank last year, a move that established her as the front-runner to succeed Mr. Corbat. But the timing of Mr. Corbat’s retirement comes as a surprise; he was expected to remain CEO for another two years.