CEO of Citigroup Inc: Leadership and Innovation

Jane Fraser is the first woman to lead Citigroup Inc, a position she took on in 2021. She has been instrumental in shaping the company's future direction.

Fraser has extensive experience in the financial industry, having worked at Citigroup for over 30 years. She has held various leadership positions, including CEO of Citi's Asia Pacific operations.

Under her leadership, Fraser has emphasized the importance of innovation and digital transformation. She has also prioritized diversity and inclusion, recognizing the value of a diverse workforce.

Fraser's leadership style is characterized by her ability to balance short-term goals with long-term vision.

Jane Fraser's leadership style is centered around making the bank future-ready, having empathy for its clients and people, and diversity. She has taken several visible measures to secure Citi's global profitability, including unifying the bank's Wealth business and streamlining its global consumer operations.

Fraser's approach emphasizes digital upgrades and process simplification, which has driven higher returns and lower costs for the bank. This reengineering work has increased value for Citi's shareholders.

Empathy is a key component of Fraser's leadership style, as she believes it can create a competitive edge. In a LinkedIn post, she wrote that empathy is not a sign of weakness, but rather a way to listen to clients and incorporate their circumstances into the bank's plans.

Fraser's commitment to cultural transformation has been evident in her efforts to improve communication and transparency across the organization. In a 2021 survey, 91% of Citi staff said they believe the company is effectively communicating its plans and response to COVID-19.

Fraser's leadership approach also emphasizes innovation and adaptability, as seen in her decision to allow staff to work from home during the pandemic. This move aimed to differentiate Citi from other banks and make it a more attractive employer.

Under Fraser's leadership, Citi has made significant strides in its ESG agenda, incorporating its eco-friendly ethos into the firm's business model. The bank has pledged to become a Net Zero carbon emission company by 2050 and finance $500 billion in environmental projects by 2030.

Citi is providing $5.6 billion in loans to support affordable housing projects that offer physically secure and fiscally accessible homes to families.

The bank is also investing $200 million through the Citi Impact Fund in private sector enterprises that address pressing social issues in the US.

Most of the fund's investments for housing have gone to companies founded by women and racial/ethnic minorities, with 13 Black founders receiving support, representing 41% of the Fund's portfolio and 28% of its total investment equity.

Jane Fraser, CEO of Citigroup, believes that greater diversity, equity, and inclusion enable progress, and has made it a priority to increase the percentages of women and Black talent in the firm.

Citi's Affordable Housing Efforts are a significant step towards creating a more equitable society. The bank is providing $5.6 billion in loans to support projects that will equip families with homes that are both physically secure and fiscally accessible.

This commitment is part of Citi's broader efforts to address social issues in the United States. Through the $200 million Citi Impact Fund, the company is making equity investments in private sector enterprises that are tackling pressing social problems.

Jane Fraser played a crucial role in pulling Citigroup out of a mess in Latin America. She took charge of Citi's Latin America region from 2015 to 2019 and successfully fixed the troubled banking business in Mexico.

She inherited the baggage of alleged accounting fraud at Citi's Banco Nacional de Mexico, now known as Citibanamex. Despite the challenges, Fraser prevailed in pushing a major financial investment to modernize and enhance the Mexican branch's infrastructure and digital capabilities.

Fraser's efforts led to a significant improvement in the bank's operations in Latin America.

Jane Fraser's impressive career in banking has earned her numerous honors and recognition. She has been ranked among Fortune's "Most Powerful Women in Business" in both 2014 and 2015. This prestigious title is a testament to her exceptional leadership skills and contributions to the industry.

In 2014 and 2015, American Banker also recognized Jane Fraser as the "Number 1 Woman to Watch". This award highlights her potential for growth and impact in the world of finance.

In 2021, Jane Fraser was selected for Forbes' "50 Over 50" list, celebrating entrepreneurs, leaders, scientists, and creators over the age of 50. This achievement demonstrates her continued influence and relevance in the industry.

Citi's Performance is a mixed bag.

Citi's net income nearly tripled during Corbat's tenure to almost $20 billion last year.

The bank has been able to return nearly $80 billion in capital through dividends and buybacks.

However, Citi's profit plunged 73% during the second quarter due to the pandemic.

Citi has lost one-third of its market value this year, lagging behind the S&P 500 and its rivals.