Jane Fraser Named President of Citi and Head of Global Consumer Banking
October 24 2019 - 5:34PM
Business Wire
Citi CEO
Michael Corbat Announces Leadership Changes
Citi today announced leadership changes in the below message to
colleagues from CEO Michael Corbat:
Dear Colleagues:
Just as talent planning and development is something we ask of
all our leaders, I also have a responsibility to you, and all of
our stakeholders, to make sure our firm is well positioned to
succeed, not just in the coming years, but into the next decade and
beyond.
To that end, I have asked Jane Fraser to serve as President of
Citi, a role that has been open since earlier this year. Stephen
Bird has informed me of his decision to leave Citi to pursue an
opportunity outside our firm, so Jane will also become CEO of
Global Consumer Banking. Stephen will be available over the next
few weeks to ensure a smooth transition.
Ernesto Torres Cantu, currently CEO of Citibanamex, will succeed
Jane as CEO of Latin America. We will make an announcement about
the leadership in Mexico in the near future.
Jane has been at our firm for 15 years, since she joined from
McKinsey to run Client Strategy in the Corporate and Investment
Bank. During the financial crisis, she led our Corporate Strategy
and M&A group and, in many ways, Jane helped shape the company
we are today. She subsequently ran two of our businesses, the
Global Private Bank followed by U.S. Consumer and Commercial
Banking & Mortgages.
Most recently, Jane served as CEO of Latin America, where she
and Ernesto have been overseeing our substantial investment in
Citibanamex, which has strengthened our franchise as well as
improved our products and services.
Ernesto is a 30-year veteran of Citi, having joined as a
corporate banker in 1989. He was appointed CEO of Citibanamex in
2014. He has an excellent track record of driving business results
while also prioritizing our culture and controls. Ernesto is well
prepared to take on the role of CEO of the region.
Stephen has spent over 20 years at Citi and has served in
several key roles, such as Head of Consumer Banking in Asia Pacific
and ultimately CEO of the region. In 2015, he began setting a new
path for Global Consumer Banking. He established a digital-heavy,
footprint-light strategy in the U.S., our largest consumer market,
while protecting and enhancing our competitive positions in Mexico
and Asia. The strategy is clearly delivering results. We are
grateful for his many contributions and wish him the very best in
the future.
Working together, we have made tremendous progress. I remain
committed to leading our firm in the coming years and look forward
to working even more closely with Jane in her new roles. We will
continue to execute our strategy so we can deliver the results our
stakeholders expect and deserve.
– Mike
Citi
Citi, the leading global bank, has approximately 200 million
customer accounts and does business in more than 160 countries and
jurisdictions. Citi provides consumers, corporations, governments
and institutions with a broad range of financial products and
services, including consumer banking and credit, corporate and
investment banking, securities brokerage, transaction services, and
wealth management.
Additional information may be found at www.citigroup.com |
Twitter: @Citi | YouTube: www.youtube.com/citi | Blog:
http://blog.citigroup.com | Facebook: www.facebook.com/citi |
LinkedIn: www.linkedin.com/company/citi
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