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Jane Fraser is the Chief Executive Officer of Citi, the world’s most global bank, which serves millions of consumers, businesses, and institutions across nearly 160 countries and jurisdictions. She is the first female CEO in the firm’s history and one of the most influential women in business. But how much does she earn and what is her net worth? In this article, we will explore Jane Fraser’s salary, net worth, earning career, education, and personal life in detail.
Jane Fraser’s Salary and Net Worth
According to Forbes, Jane Fraser’s annual salary as the CEO of Citi is $19.5 million, which includes a base salary of $1.5 million, a cash bonus of $6.75 million, and an equity award of $11.25 million. This is a 10% increase from her previous salary as the president of Citi and the CEO of its global consumer bank.
Jane Fraser’s net worth is estimated to be around $50 million, based on her salary, stock options, and other assets. She owns 0.01% of Citi’s shares, which are worth about $17 million as of April 2023. She also has a stake in McKinsey & Company, where she worked as a partner for 10 years before joining Citi in 2004.
Jane Fraser’s Earning Career
Jane Fraser has had a remarkable career in the financial industry, spanning over three decades. She started her career at Goldman Sachs in London as a mergers and acquisitions analyst in 1988. She then worked as a brokerage associate for Asesores Bursátiles in Madrid from 1990 to 1992. In 1992, she enrolled at Harvard Business School, earning her MBA in 1994.
She joined McKinsey & Company in 1994, working in financial services and global strategy, eventually rising to partner. She worked part-time while raising her young children. She wrote articles on globalization and co-authored the book Race for the World: Strategies to Build a Great Global Firm in 1999.
She moved to Citi in 2004 as the head of client strategy in its investment and global banking division. She was promoted to global head of strategy and mergers and acquisitions in 2007, CEO of Citi’s global private bank in 2009, CEO of Citi Mortgage in 2013, CEO of the U.S. consumer and commercial bank and global mortgages in 2014, and CEO of Citigroup Latin America in 2015.
In 2019, she was named president of Citi and CEO of its global consumer bank, responsible for all of Citi’s consumer businesses in 19 markets. She also spearheaded the firm’s efforts to navigate the COVID-19 pandemic. In September 2020, Citi announced that she would replace Michael Corbat as CEO of Citigroup Inc. in February 2021, becoming the first woman to head a major U.S. bank.
Jane Fraser’s Education
Jane Fraser was born in St Andrews, Scotland in 1967. She attended Girton College, Cambridge from 1985 to 1988, graduating with an MA in economics. She was awarded a Kennedy Scholarship to study at Harvard Business School, where she earned her MBA in 1994.
Jane Fraser’s Personal Life
Jane Fraser is married to Alberto Piedra Jr., a former investment banker who now runs his own private equity firm called Dabney Capital Partners. They have two sons, Alexander and Matthew. They live in New York City but also have homes in London and Scotland.
Jane Fraser is active in various social and philanthropic causes. She serves on the board of directors of the Business Roundtable and the Council on Foreign Relations. She is vice chair of the Partnership for New York City as well as the Financial Services Forum and a member of the Monetary Authority of Singapore’s International Advisory Panel, Harvard Business School’s Board of Dean’s Advisors, the Stanford Global Advisory Board, the Economic Club of New York and President Biden’s Export Council.
She is also passionate about diversity and inclusion. She launched Citi Women, an initiative to promote women’s leadership within Citi. She also supports organizations such as Girls Who Code, Women Entrepreneurs NYC, Catalyst Inc., The Women’s Forum for the Economy & Society, The Committee of 200 (C200), The Financial Women’s Association (FWA), The International Women’s Forum (IWF), and The 30% Club.
Conclusion
Jane Fraser is a trailblazer in the banking industry, breaking the glass ceiling as the first female CEO of a major U.S. bank. She has a stellar track record of leading Citi’s various businesses and driving its growth and transformation. She is also a role model for women and girls who aspire to pursue careers in finance and leadership. She has an impressive salary and net worth, reflecting her achievements and contributions to Citi and the global economy.
Most Asked Questions and Answers
Q: How old is Jane Fraser?
A: Jane Fraser is 56 years old as of 2023.
Q: Where is Jane Fraser from?
A: Jane Fraser is from St Andrews, Scotland.
Q: What is Jane Fraser’s nationality?
A: Jane Fraser has dual British (Scottish) and American citizenship.
Q: What is Jane Fraser’s education?
A: Jane Fraser has an MA in economics from Girton College, Cambridge and an MBA from Harvard Business School.
Q: What is Jane Fraser’s current position?
A: Jane Fraser is the Chief Executive Officer of Citi, the world’s most global bank.
Q: When did Jane Fraser become the CEO of Citi?
A: Jane Fraser became the CEO of Citi in March 2021, succeeding Michael Corbat.
Q: Who is Jane Fraser’s husband?
A: Jane Fraser’s husband is Alberto Piedra Jr., a former investment banker and private equity investor.
Q: How many children does Jane Fraser have?
A: Jane Fraser has two sons, Alexander and Matthew.
Q: What are Jane Fraser’s hobbies and interests?
A: Jane Fraser enjoys reading, traveling, skiing, golfing, and spending time with her family.
Q: What are some of Jane Fraser’s awards and recognitions?
A: Some of Jane Fraser’s awards and recognitions include:
- Fortune’s “Most Powerful Women in Business” list in 2014 and 2015
- American Banker’s “Number One Woman to Watch” for two years in a row
- Forbes’ “World’s 100 Most Powerful Women” list in 2020 and 2021
- Time’s “100 Most Influential People” list in 2021
- Barron’s “100 Most Influential Women in U.S. Finance” list in 2020 and 2021
- Financial Times’ “Person of the Year” in 2020
