.jpg){kind=avatar}
Colleagues and friends said Ms. Fraser, who would be the first woman to lead a major Wall Street bank, is up for the challenge, having tackled some of the bank’s thorniest problems in her 16 years at the bank. Ms. Fraser, they said, has the right combination of strategic vision and operational prowess to guide Citigroup through a severe recession that has injured several of its core businesses.
“Jane is tough as nails,” said John Gerspach, Citigroup’s retired longtime financial chief. “She’s an incredibly nice person but don’t confuse how she comes across with her ability to make the hard decisions.” Ms. Fraser’s appointment as the bank’s first female CEO is “a point of pride for all of us and groundbreaking for our industry,” Mr. Corbat said in a memo to employees.
unknownx500
