10.22.20
A new report by Time, reports om Jane Fraser, the incoming CEO of Citigroup, on how to smash the glass ceiling.
Jane Fraser’s promotion as the incoming CEO of Citigroup will make her the first woman to head a major Wall Street bank. Fraser’s rise is the result of a multiyear effort at Citi, the $74 billion financial-services giant, to increase diversity throughout the organization. Citi’s three-pronged approach focuses on recruitment, development and retention, and pays particular attention to promotion paths.
Fraser has an M.B.A. from Harvard Business School and an M.A. in economics from Cambridge University; she joined the bank in 2004, after starting her career at Goldman Sachs and later becoming a partner at McKinsey. She says Citi’s approach has helped explode the myth of a pipeline problem. “The talent exists, full stop,” she says. “And it’s time to kill the notion that there’s a trade-off between diversity and meritocracy.”