Booms and busts and scams and panics have changed Wall Street in many ways over the decades, but one thing has stubbornly remained the same: The top jobs have always gone to men. Now, that last bastion is about to collapse. Come February, Jane Fraser will become the first woman to lead a major financial institution in the United States when she takes the reins at Citigroup, the country’s third-largest bank. Ms. Fraser, who has been at Citi for 16 years and currently runs its biggest global division, the consumer bank catering to individual customers, will succeed Michael Corbat as chief executive. “It’s about time,” said Heidi Miller, a former top executive at JPMorgan Chase who was once seen as a potential successor to Jamie Dimon, the bank’s longtime chief executive.

Source: New York Times September 10, 2020 12:55 UTC