Citi Names Fraser as First Female CEO of Wall Street Bank
- Mike Corbat to retire in February after eight years in job
- Fraser was named president last year in move toward succession
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Citigroup Inc. picked Jane Fraser as its next chief executive officer, placing the first woman atop a major Wall Street bank.
Fraser will succeed Mike Corbat, who is retiring in February after more than eight years in the top job. Fraser, who was named the company’s president last year in a move that marked her as the heir apparent, has run the bank’s consumer unit, private bank and Latin American operations in her 16-year tenure.