Citigroup has promoted Jane Fraser to president, its second-highest post, paving the way for her to succeed CEO Michael Corbat and become the first woman to run one of the largest US banks. Corbat said he tapped Fraser for the the role to make sure the bank is well positioned for the next decade and beyond. "I remain committed to leading our firm in the coming years and look forward to working even more closely with Jane in her new roles," the CEO said in a memo. Fraser will also replace Stephen Bird as the head of global consumer banking. Fraser has been with Citigroup for 15 y...
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