Jane Fraser is the CEO of Citi, the world’s most global bank, serving millions of consumers, businesses, and institutions across 160 countries and jurisdictions. She is the first woman CEO in the firm’s history.
Since becoming CEO in March 2021, Jane Fraser has launched a multi-year strategy to increase Citi’s profitability and better position the company for the speed and complexity of the digital age.
This effort includes transforming Citi’s risk and control environment by modernizing infrastructure, pursuing operational excellence, and investing in Citi’s culture.
Jane is committed to making Citi the preeminent banking partner for institutions with cross-border needs, a global leader in wealth management, and a valued personal bank in its U.S. home market.
During her 18-year career at Citi, Jane has held leadership roles in both Citi’s institutional and consumer businesses.
Before becoming CEO, she served as Citi’s President and CEO of the Global Consumer Bank, responsible for all of Citi’s consumer businesses in 19 markets. She also led the firm’s efforts in navigating the COVID-19 pandemic, which led to her appointment as CEO.
Jane joined Citi in 2004 in the Corporate and Investment Banking division. She served as Citi’s Global Head of Strategy and Mergers & Acquisitions from 2007 to 2009, as CEO of Citi Private Bank from 2009 to 2013, as CEO of CitiMortgage from 2013 to 2014, as CEO of U.S. Consumer and Commercial Banking and Global Mortgages from 2014 to 2015, and as CEO of Citigroup Latin America from 2015 to 2019.
Before joining Citi, Jane was a partner at McKinsey & Company. She began her career at Goldman Sachs in the Mergers & Acquisitions department in London and later worked for Bursátiles Advisors in Madrid.
Jane is a member of the Board of Directors of the Business Roundtable and the Council on Foreign Relations.
She is Vice Chair of the Partnership for New York City and serves on the Dean’s Advisory Board at Harvard Business School, the Global Advisory Board at Stanford, and the Economic Club of New York.
Educated at Harvard, Fraser holds an MBA from Harvard Business School and a Master’s degree in Economics from the University of Cambridge. She is married and has two children.
How much does the Citibank CEO earn on Wall Street?
It’s no surprise that, according to El País, the $22.5 million salary Jane Fraser earns for leading Citi is about a third less than her Wall Street peers.
Thus, she embodies the trend of high-performing bank heads being paid more when they’re men rather than women—something that is increasingly being challenged around the world.
James Gorman of Morgan Stanley and David Solomon of Goldman Sachs, for example, each earn $35 million.
Of course, it’s worth noting that the earnings of any CEO, male or female, will ultimately depend on their results: compensation is tied to stock packages and financial goals aimed at keeping the banking group strong and healthy.