Citigroup Names Jane Fraser as President
October 24 2019 - 6:20PM
Dow Jones News
By David Benoit
Citigroup Inc. Chief Executive Michael Corbat named Jane Fraser
as his No. 2, signaling that she is the most likely candidate to
replace him.
The New York bank said Ms. Fraser has been named president of
the firm, a decision that crystallized her rank above Stephen Bird,
who had also been considered a potential CEO candidate. Mr. Bird is
leaving the bank, and Ms. Fraser will run the consumer bank, Mr.
Corbat said on Thursday in a new release.
Mr. Corbat had been without a president in recent months and
sought to select one of his top deputies to protect the potential
succession plan, according to people familiar with the matter. Ms.
Fraser had been running the bank's Latin American unit.
Mr. Bird told Mr. Corbat he was leaving "to pursue an
opportunity outside our firm," the memo said.
Write to David Benoit at david.benoit@wsj.com
(END) Dow Jones Newswires
October 24, 2019 18:05 ET (22:05 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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