Jane Fraser

Dame Jane Fraser (born 13 July 1967) is a British-American banking executive who has been chief executive officer (CEO) of Citi since March 2021 and chair since October 2025. She is the first woman to head a major U.S. bank.

Fraser was educated at Girton College, Cambridge, and Harvard Business School. She worked at McKinsey & Company for 10 years, rising to partner prior to joining Citigroup in 2004. In 2019, she was named president of Citigroup and CEO of its consumer banking division.

Fraser was included on Fortune "Most Powerful Women in Business" list in 2014 and 2015 and has been called the "Number 1 Woman to Watch" for two consecutive years by American Banker. She was named the eighth most powerful woman in the world in 2025 by Forbes. She is a member of the President's Export Council.

Early life and education Jane Fraser was born on 13 July 1967 in St Andrews, Scotland. She attended Girton College, Cambridge, from 1985 to 1988, graduating with a BA (promoted to an MA per tradition) in economics.

After graduation, she worked as a mergers and acquisitions analyst at Goldman Sachs, London, from July 1988 to July 1990, then as a brokerage associate for Asesores Bursátiles, a Madrid-based securities broker, from August 1990 to June 1992. As part of Fraser's research for the book, she traveled to China, Hong Kong, Indonesia, Singapore and India to interview McKinsey clients about their global challenges. Her tenure as Global Head coincided with the 2008 financial crisis, and she was part of the executive team that was "charged with restructuring the group, leading its re-engineering effort, making divestments and raising new capital."

In May 2013, she was asked to replace the retiring CEO of CitiMortgage. Though she knew the move was a career risk, she accepted the challenge.

Less than a year later, in March 2014, Fraser was promoted to CEO of US Consumer and Commercial Banking, succeeding Cecelia Stewart, who announced her retirement. And in April 2015, she was named CEO of Citigroup Latin America, Medina-Mora was replaced by Stephen Bird, former CEO for the Asia-Pacific region, who in turn was replaced by Francisco Aristeguieta, former CEO of Citigroup Latin America. While based in Miami,

Promotion to CEO and tenure

In September 2020, Citigroup announced its CEO Michael Corbat's retirement, to be effective in February 2021. Fraser was appointed to succeed Corbat, becoming the first female CEO of a top-tier Wall Street Investment Bank, leading the third-largest bank in the U.S.

During the COVID-19 pandemic, Fraser instituted permanent plans to allow staff to work from home some days of the week and granting staff greater flexibility in their schedules than other Wall Street firms. She has cited differentiating Citigroup from other bulge bracket banks such as Goldman Sachs and JPMorgan Chase during recruiting as a motivation for this approach. However, Fraser tested positive for COVID-19 and did not show up for the summit.

In August 2025, she traveled to Mexico City to meet with President Claudia Sheinbaum.The discussions reportedly focus on a potential public listing of Banamex, Citi’s retail banking arm, as the bank explores new strategic options after a previously abandoned $7 billion sale.

In October 2025, Citigroup elected Fraser as Chair of the board of directors and she was awarded a $25 million bonus. As of July 2026, Fraser has contributed to a 45% profit increase at Citigroup.

Philanthropy and memberships Fraser is Vice Chair for Partnership for New York City and a member of the Harvard Business School's Board of Dean's Advisors, the Stanford Global Advisory Board, the Economic Club of New York and the Council on Foreign Relations. She was also a member of the board of the Touch Foundation from 2006 to 2015.

Honours and recognition In 2015, Fraser was ranked number 41 on Fortune list of the 51 Most Powerful Women in Business, up from number 48 on the 2014 list. American Banker named her the "Number 1 Woman to Watch" both in 2014 and 2015.

Fraser was selected for the inaugural 2021 Forbes 50 Over 50; made up of entrepreneurs, leaders, scientists and creators who are over the age of 50.

Fraser was ranked 4th on Fortune's list of Most Powerful Women in 2023.

Personal life Fraser is married and the mother of two sons. Her husband, Alberto Piedra, a former banker and native of Cuba,

In April 2021, during her first televised interview as CEO of Citigroup on CNBC, Fraser disclosed that despite the [British] accent, she had "been a proud American [citizen] for the last 20 years".

On 26 May 2021, during a congressional testimony before the United States Senate Committee on Banking, Housing and Urban Affairs, Fraser noted in her opening remarks as CEO of Citigroup, that she first arrived in the United States in 1987, before becoming a U.S. citizen in 2001.