Citigroup’s Jane Fraser to Succeed Michael Corbat as CEO

Jane Fraser will become the first woman to run a major Wall Street bank, succeeding Michael Corbat as chief executive when he retires in February, according to a story in The Wall Street Journal. Ms. Fraser has worked at Citigroup for 16 years. She was sent to run the bank’s important Latin American divisions before moving to New York last year to run the consumer bank. During the financial crisis, Ms. Fraser led the bank’s strategy division.