Citi Just Became a Magnet for Ambitious Working Moms
The first woman to lead a major Wall Street bank is offering a new way of working.
Citigroup CEO Jane Fraser got an early-career boost from flexible work.
Photographer: Tom Williams/CQ-Roll Call, Inc.A couple of weeks after Jane Fraser had her first child, she made partner at McKinsey & Co. She wanted some balance in her life, so the future Citigroup Inc. CEO decided to work part-time — an arrangement she maintained until she departed the consultancy for Citi in 2004. “I honestly don’t think I’d be here today if I hadn’t,” she said in 2020, not long after being named the bank’s new chief.
Fraser benefited firsthand from flexibility in an industry notorious for its grueling hours and rigidity. And since becoming the head of Citi, she’s tried to inject a bit of that same attitude into the finance world. During the pandemic, she implemented Zoom-free Fridays, reminded employees to take vacations and asked that they schedule calls during traditional working hours.