Jane Fraser Biography
Jane Fraser is the current CEO of Citigroup, a post she has held since March 2021. She is a British-American financial executive. She was named to Fortune’s “Most Powerful Women in Business” list in 2014 and 2015, and American Banker named her the “Number One Woman to Watch” for two years in a row.
How old is Jane Fraser? – Age
She is 54 years old as of 13 July 2021. She was born in 1967 in St Andrews, United Kingdom.
Jane Fraser Education
Fraser studied economics at Girton College in Cambridge from 1985 to 1988, graduating with a BA. From July 1988 to July 1990, she worked as a mergers and acquisitions analyst at Goldman Sachs in London, and from August 1990 to June 1992, she worked as a brokerage associate for Asesores Bursátiles, a Madrid-based securities broker. She enrolled at Harvard Business School in 1992 and received her MBA in 1994.
Who is Jane Fraser’s Husband?
Fraser is married to Alberto Piedra. The couple has two sons; Gordon Piedra, who works in the field of physics, and Cameron Piedra, a professional golfer. During the financial crisis of 2008, her husband, a Cuban native, left his job as a bank manager in Europe to spend more time with their young children.
Where is Jane Fraser located? – House
She lives in New York City, United States. She got $5.3 million for her oceanfront Coral Gables property, which was a bargain compared to its purchase price. According to property records, Jane Fraser and her husband, Alberto Piedra, sold their roughly 7,000-square-foot, five-bedroom, five-and-a-half-bathroom home at 185 Los Pinos Court to Jose Da Costa Gomez and his wife, Annelies.
The house is situated in a gated community on a secluded cul-de-sac. According to the listing, it has 112 feet of water frontage and a 69-foot private dock. The home was originally advertised for $6.3 million in January and has since been reduced to $5.8 million. Fraser and Piedra paid $6.1 million for the Coral Gables home in 2015, according to public records. It was constructed in 1990, with expansions made in the years 2000 and 2011.
Jane Fraser McKinsey & Company
She joined McKinsey & Company in 1994 and worked in financial services and global strategy before becoming a partner. She worked in New York for the first six years and London for the last four. While raising her small children, she worked part-time. She contributed articles on globalization and co-authored Race for the World: Strategies to Build a Great Global Firm with three other McKinsey workers in 1999. She flew to China, Hong Kong, Indonesia, Singapore, and India to interview McKinsey clients about their worldwide difficulties as part of her research for the book. After seeing her speak about the book, Citigroup executive Michael Klein spent several years trying to persuade Fraser to join the firm, which she did in 2004.
How much does Jane Fraser make? – Salary
For her first year on the job, Citigroup Inc. C 2.85 percent paid Fraser $22.5 million. Fraser was paid a salary of $1.33 million and a cash bonus of $6.35 million when he became CEO on March 1, 2021. The majority of her pay—$14.82 million in restricted stock tied to performance metrics—is in restricted stock. Ms. Fraser’s predecessor, Michael Corbat, was paid $19.04 million by Citigroup in 2020. Mr. Corbat’s pay was cut by 21% that year after the bank was reprimanded and fined $400 million by regulators for failing to strengthen its risk-management procedures. In 2018 and 2019, he earned $24 million. Fraser earned $17.15 million in 2020 as president of the bank and head of its consumer business, with a $500,000 compensation.
Jane Fraser Citigroup
In July 2004, Fraser joined Citigroup’s investment and global banking division as Head of Client Strategy. She was elevated to Global Head of Strategy and Mergers and Acquisitions in October 2007. In June 2009, she was named CEO of Citi Private Bank, which had a $250 million yearly deficit at the time. She oversaw a reduction in the ratio of private bankers to clients, with a goal of one banker for every 30 clients, as well as the elimination of banker commissions and sales formulas in favor of a year-end discretionary bonus. In March 2013, Francesca Fraser was named CEO of Citigroup’s US Consumer and Commercial Banking, overseeing operations in 24 countries.
Banamex (Banco Nacional de México), owned and controlled by Citigroup since 2001, has charged her with “instilling a more US-like culture.” In 2014, the bank was fined $2.2 million for fraud. Fraser will take over all of Citi’s Consumer activities in 19 markets in October 2019, including Retail Banking and Wealth Management, Credit Cards, Mortgage, and Operations and Technology.
Jane Fraser Net Worth
She has an estimated net worth of $60.35 million.