Citi hails first female president in Jane Fraser

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Citi hails first female president in Jane Fraser

Citigroup Inc. has promoted Jane Fraser as the president and head of its consumer bank. She becomes the first female top leader of the U.S. bank.

Stephen Bird is replaced as the head of the company as Citi announced on Thursday, citing that Bird is leaving Citi after more than 20 years.

Michael Corbat, current CEO of Citi, was quick to note that there would be no changes at the management.

“I remain committed to leading our firm in the coming years and look forward to working ever more closely with Jane in her new roles,” Corbat said.

At 52, Fraser has been with Citi for the past 15 years running the bank’s Latin America business which includes Citibanamex division in Mexico.

Bird, leaving his post, is reported to be one of the shortlisted external candidates for the role of HSBC Holdings Plc’s chief executive.

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