Citigroup's Jane Fraser is doing the unthinkable on Wall Street [cnn.com]

Rafael Maravilla(PACEs Connection Staff) 11/16/214:00 AM

By Allison Morrow, Photo: Kyle Grillot/Bloomberg/Getty Images, CNN Business, November 15, 2021

Less than a month into her role as the chief executive of Citigroup, Jane Fraser made a decision that shook Wall Street.

It was late March, and signs of burnout were everywhere after more than a year of remote work in the pandemic. Deal volume was at record highs and showed no signs of letting up. Over at investment banking rival Goldman Sachs, young analysts made headlines with workplace horror stories that went beyond the typical long hours and cutthroat competition that Wall Street's known for. They were falling apart, mentally and emotionally.

Fraser saw an opportunity. And the memo she sent to Citi's 210,000 global staff would set the tone for how she would try to overhaul Citigroup — long languishing in third place and mired in bad press.

[Please click here to read more.]

Add Comment

Comments (0)

<ul id="{%=id%}ButtonGroup" class="button-group h-popup-buttons even-button-group even-1">
    <li id="{%=id%}Okay_buttonContainer"><a id="{%=id%}Okay" href="javascript:void(0);" class="button success no-margin-bottom h-alert-modal-ok-button" role="button">OK</a><script type="text/javascript">
        (function() {
            function {%=id%}Okay_click(event, data) {
            {%=id%}Popup.hide();
        }
        
                $('#{%=id%}Okay').on('click', {%=id%}Okay_click);
        })();
    </script></li></ul><a href="javascript:void(0);" class="close-reveal-modal" aria-label="Close Modal">&#215;</a><div class="last-modal-focus focus-utility-element" tabindex="0"></div>
</div>
<script type="text/javascript">
        (function() {
            {%=id%}Popup = new SS.Popup.ModalPopup('{%=id%}');
        })();
    </script>

Skip to main content

Add Comment

Membership Required

Remove From Your Block List

Manage Follow Preferences

Block

Please wait...