Citigroup names Jane Fraser CEO

The Citigroup board of directors has named Jane Fraser to succeed Michael Corbat as CEO. Corbat announced he will retire in February 2021. Fraser will be the first woman at the head of a large Wall Street bank, per The New York Times, and joins the 31 women CEOs who lead S&P 500 companies. “Our balance sheet is strong and our commitment to serving our clients and communities is even stronger,” Fraser said. “I will do everything I can to make all of our stakeholders proud of our firm as…