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Citigroup Overtakes French Banks With Most Women in Boardroom

Chinese and Japanese lenders are the laggards when it comes to female representation.

Jane Fraser
Jane FraserPhotographer: Kyle Grillot/Bloomberg

Citigroup Inc. is beating the French at their own game following the elevation of Jane Fraser to chief executive officer.

Women now account for half of Citigroup’s 16-person board, the most of the 20 largest global banks, after Michael Corbat stepped down as CEO and was replaced by Fraser. Until this month, French lenders have been the most progressive about promoting gender diversity, buoyed by government rules that require large companies to have at least 40% female representation on their supervisory boards.