Citigroup has appointed the Scottish-American banker Jane Fraser as its next chief executive, the first time a big Wall Street bank will be led by a woman. Fraser was born in Scotland and studied economics at Cambridge University and Harvard Business School before starting her banking career at Goldman Sachs in London. Since then, she has worked in roles across the world for a range of companies. The promotion will make Fraser one of the most prominent women in US business. Only 38 of the Fortune 500, which tracks the US’s biggest listed companies, had female chief executives at the start of August, according to CNN. Fraser’s first job will be to guide Citi through the extended period of economic weakness expected by many economists as the US and other major markets struggle to recover from the coronavirus pandemic.

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The Guardian