Five years after Jane Fraser took the helm at Citigroup, the British banker has delivered: the bank’s stock has risen 83% since her appointment, and Citi logged its highest quarterly revenue in a decade in Q1 2025, with a return on tangible common equity of 13.1%. The first woman to lead a major U.S. bank, Fraser restructured the institution into five divisions, exited 14 international retail banking markets, and plans to cut 20,000 jobs by year-end. During the 2008 financial crisis, she had already executed 25 deals in 18 months to save the bank. Challenges remain: the CEO must now transition Citi from repair mode to a genuine growth story.
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