Once it reaches 50,000 feet (15,240 metres) the carrier plane releases SpaceShipTwo, a reusable, winged spacecraft designed to carry six passengers and two pilots into space. Virgin Galactic has named its first SpaceShipTwo VSS Unity (pictured) – the craft that the company has used in all of its test flights – though the firm is […]
“So I got a call from my father, who’s a doctor, who said, ‘Darling, it’s a very good article but I’m a bit concerned about you running through long grass. And while we’re at it, in the book it says you’re being dragged behind a boat on a coral reef with sharks so I just […]
She said she ignored those who warned her that she would be “stupid” to get pregnant and was subsequently appointed a McKinsey partner two weeks after giving birth. She worked part-time there for a decade before returning to banking with Citigroup in 2004, keen to move away from advising and back to running a business.
NEW YORK: Citigroup announced that Jane Fraser would succeed Michael Corbat as the bank’s next chief executive, making Fraser the first woman to ever lead a Wall Street bank.Fraser is currently head of Citi’s global consumer banking division, a major part of the bank that includes checking and savings accounts but also Citi’s massive credit […]
“We believe Jane is the right person to build on Mike’s record and take Citi to the next level. She has deep experience across our lines of business and regions and we are highly confident in her. Jane’s ability to think strategically and also operate a business are a unique combination that will serve our […]
Corbat turned Citi into a much smaller and stable entity, focusing on its credit card businesses and its international banking franchise. It was able to pass the Federal Reserve’s “stress tests,” which test a bank’s resiliency, and is considered a much healthier institution now than it ever was before the financial crisis.
Corbat led Citigroup for eight years, rebuilding the company after it nearly collapsed during the Great Recession and 2008 financial crisis. The federal government had to step in to buy a stake in Citi to keep it afloat, and the New York bank had some of the most toxic assets of all the major banks […]
He says: “A lot of anxieties disappear, you get to a certain age and you think, ‘Well, I am that age. If I die next year, that will probably be average’. If you think you’ve done most of what you want to do, it’s all rather a relief.”
Ms. Fraser, 53, has been a rising star in the financial industry, with a career that spans investment banking, wealth management, troubled mortgage workouts and strategy in Latin America a key geography for Citigroup. She will take the reins from CEO Michael Corbat in February, the bank said.
“I have worked with Jane for many years and am proud to have her succeed me,” Corbat said in a statement. “With her leadership, experience and values, I know she will make an outstanding CEO.”