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Jane Fraser (53) has broken the glass ceiling.

Specifically, banking, by becoming the next CEO of Citigroup, replacing Michael Corbat, former CEO.

She is the first woman

to reach the highest position in one of the Wall Street banks,

the third largest in the US.

Her appointment will come in February, when Corbat retires after eight years in office.

The career of this top Scottish executive began at Goldman Sachs when she was 20 years old, where she joined as a financial analyst.

She studied at Cambridge University and Harvard Business School.

Also in Spain, where he spent two years learning the language.

"I thought Spain would be more fun than Germany," he told an American economic forum.

In our country he worked in the firm Asesores Burstiles, from which other well-known faces have emerged, such as that of

former Minister of Economy Luis de Guindos.

After his

Spanish

Erasmus

, he joined the consulting firm McKinsey & Company until he made his jump to Citigroup in 2004.

In this entity she has developed her career for 16 years, going through different areas and living from within, for example, the outbreak of the 2008 financial crisis, becoming executive director of the mortgage sector.

In 2014, she obtained the position of CEO for Latin America and between 2015 and 2019 she lived in Brazil, where she took on the challenge of redirecting Citi's Mexican subsidiary.

Since autumn 2019, she has been the global head of consumer banking, for which she earns about 10 million euros per year.

"I am proud that she is my successor

. Between her leadership, her experience and her values, I know she will be an exceptional CEO," said her predecessor, Michael Corbat.

Not only has his predecessor had good words for Fraser, but also, and above all, other women who hold high positions in the banking sector have shown pride in the appointment of his partner.

Among them, the Spanish Ana Botín, president of Banco Santander: "What good news.

I am delighted to see another female executive director in banking. Congratulations, Jane."

Ana Botín, who assumed the presidency of Santander after the death of her father in 2014, thus welcomed Fraser, vindicating the role of women in the banking sector.

"I was always hopeful that when I retired, there would be other women in CEO positions.

What an incredibly proud day this is,

" said Beth Mooney, former CEO of KeyCorp.

Mooney resigned last April and until then ran one of the 20 largest banks in the United States.

Cathy Bessant, Bank of America chief operating officer, was in the running for the leadership of Wells Fargo, which ultimately lost to Charles W. Scharf.

Perhaps because of that defeat, she was publicly glad of Fraser's victory.

"Good news for the company and for women around the world!"

FAMILY SUPPORT

In addition to the expressions of affection that Fraser has received from her colleagues, the support of her family has been fundamental in her life and professional career.

Specifically, that of her husband,

Cuban executive Alberto Piedra,

who was director of operations for Bank of America in Europe, after spending 15 years at Goldman Sachs.

She retired in 2009 as Director of Global Banking at Dresdner Kleinwort.

He was the one who assumed to abandon his professional career to take care of the family, before the evident projection of his wife in Citi.

Fraser is the mother of two children with Alberto Piedra.

When she decided to start a family, she chose to assume more modest roles within the sector to be able to conciliate, until her husband took over.

Regarding his new challenge, Fraser expressed an idea in 2016 that has accompanied him throughout his career.

"For me, one of the biggest challenges has been my sense of doubt.

I always feel that unless I'm 120 percent ready for a new opportunity or challenge, I shouldn't take it on."

However, her secret lies in turning doubt into confidence in her team, key in the development of her new work.

Fraser said Citi had "a remarkable set of assets, including the people who make it up and a global network that no one can match."

Empowered women and banks

The appointment of Fraser as CEO of Citigroup marks a big step for women within Wall Street, traditionally a man's world.

In Spain, Ana Botín embodies the figure of the most important bank executive in our country.

Since she took office, she tried to show a more open profile and even created an Instagram account to share and bring her daily life closer to her followers.

"Pesidenta de Banco Santander. Be well to be able to do more. My family, the bank, my friends, Cantabria and the sustainable development of the world", reads her biography in this social network. She also participated in the Mediaset program '

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