Jane Fraser Biography
Jane Fraser is a British-American banking executive and the CEO of Citigroup, which she has held since March 2021 after being a a partner at McKinsey & Company for ten years. She was appointed CEO of Consumer Banking and president of Citigroup in 2019.
Fraser is a name that has become synonymous with success and excellence. She is an outstanding businesswoman, philanthropist, and leader in her field who continues to set the benchmark for others to follow. Her impressive accomplishments in the corporate world have earned her a reputation as one of the most influential women in business today. Jane’s commitment to helping others is evident through her generous donations and involvement in various charitable causes.
Jane Fraser is a dedicated leader with a proven record of success. Her experience in the financial industry and her commitment to corporate social responsibility have been integral to Citigroup’s success. Her ability to prioritize customer service, collaboration, and innovation has made her an invaluable asset to the company. Moreover, Jane Fraser has inspired countless individuals by demonstrating that it is possible to achieve success while also maintaining a commitment to ethical values.
Jane Fraser Age
She is 55 years old as of 2022. She was born on 13 July 1967 in St Andrews, United Kingdom. She celebrates her birthday on 13 July.
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Jane Fraser Husband | Children
Fraser has two sons from her marriage. During the 2008 financial crisis, her Cuban husband quit his job as a bank manager in Europe to spend more time with their young children.
Jane Fraser Education
From 1985 to 1988, she attended Girton College in Cambridge, where she earned a BA (traditionally promoted to an MA) in economics. She went to Goldman Sachs in London as a mergers and acquisitions analyst from July 1988 to July 1990. From August 1990 to June 1992, she worked as a brokerage associate for Asesores Bursátiles, a securities broker in Madrid. She applied to Harvard Business School in 1992, and she graduated in 1994 with an MBA.
Jane Fraser House
She got $5 million for her waterfront Coral Gables house, which was less than what it cost to buy. According to the records, she sold their nearly 7,000-square-foot home at 185 Los Pinos Court, which had five bedrooms and five and a half bathrooms, to Jose Da Costa Gomez and his wife, Annelies. Within a gated community, the house is in a private cul-de-sac. According to the listing, it has a 69-foot private dock and 112 feet of water frontage. In January, the property was first listed for $6.3 million, but in February, the price was reduced to $5.8 million. According to the records, Fraser and Piedra bought the Coral Gables house in 2015 for $6.1 million. It was built in 1990, with 2000 and 2011 additions.
Jane Fraser Net Worth
She has an estimated net worth of $ 70 million.
Jane Fraser Compensation
On March 1, 2021, Fraser was appointed chief executive, receiving a salary of $1.33 million and a cash bonus of $6.35 million. Her compensation, which totals $14.82 million, consists primarily of restricted stock linked to performance metrics.
Jane Fraser Citi
In July 2004, Fraser was appointed Head of Client Strategy in the investment and global banking division of Citigroup. She was given the title of Global Head of Strategy and Mergers and Acquisitions in October 2007, which she held until May 2009. She was a member of the executive team “charged with restructuring the group, leading its re-engineering effort, making divestments, and raising new capital” during her tenure as Global Head, which occurred during the financial crisis of 2007–2009.
She was appointed CEO of Citi Private Bank in June 2009. The bank had an annual deficit of approximately $250 million at the time of her promotion; During her four years in charge, it switched back to black. She implemented a number of changes, including the elimination of commissions and sales formulas for bankers in favor of a discretionary bonus at the end of the year and a target of one private banker for every thirty clients.
She was asked to take over for CitiMortgage’s retiring CEO in May 2013. She accepted the challenge even though she was aware of the career risk. When she was in charge of Citigroup’s mortgage division, there was a general decline in demand for mortgage refinancing. As a result, the bank had to refocus on selling residential mortgages to people who were buying homes. In September 2013, alone, Citigroup laid off 1,000 employees and closed several mortgage offices across the nation.
Fraser was appointed CEO of US Consumer and Commercial Banking in March 2014, less than a year after Cecelia Stewart announced her retirement. Additionally, she was appointed CEO of Citigroup Latin America in April 2015, with authority over operations in 24 nations. The latter promotion came as a result of a reorganization of Citigroup executives brought about by Manuel Medina-Mora’s retirement as CEO of Citigroup’s global consumer bank. Stephen Bird, a former CEO for the Asia-Pacific region, took the place of Medina-Mora, who was succeeded by Francisco Aristeguieta, a former CEO of Citigroup Latin America. At Banamex (Banco Nacional de México), which has been owned and operated by Citigroup since 2001, Fraser has been tasked with, among other things, “instilling a more U.S.-like culture” while based in Miami. In 2014, the bank was fined $2.2 million for fraud. Ernesto Torres Cantu, the head of Banamex, reports directly to Fraser.
In October 2019, Fraser was named President of Citigroup and Head of Global Consumer Banking (GCB). He was in charge of all of Citi’s Consumer businesses in 19 markets, including Credit Cards, Mortgage, Retail Banking and Wealth Management, and Operations and Technology.
Jane Fraser CNBC
Fraser admitted that she had “been a proud American [citizen] for the last twenty years” despite her British accent during her first televised interview as CEO of Citigroup in April 2021 on CNBC.