Next Citi CEO, Jane Fraser, to become first woman to run a major U.S. bank

few time ago a another good video called Next Citi CEO, Jane Fraser, to become first woman to run a major U.S. bank was published by the youtube channel: CNBC Television

As published in the description by CNBC Television: Citigroup CEO Michael Corbat said that he is retiring in February after eight years leading the bank, and that the firm’s retail banking chief Jane Fraser will succeed him, making her the first female CEO of a major U.S. bank. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi \n\nCitigroup CEO Michael Corbat said Thursday he is retiring in February after eight years leading the bank, and that retail banking chief Jane Fraser will succeed him, making her the first female CEO of a major U.S. bank. \n\nThe move by Corbat, 60, finalizes a management overhaul that had been underway at the third-largest U.S. bank by assets. Last year, Jamie Forese, Citigroup’s then-president, announced he was stepping down after three decades at the bank, which followed the departures of the bank’s longtime chief financial officer and a pair of regional heads.\n\nDuring his tenure, Corbat helped to improve a global financial institution that was still hobbling after the 2008 financial crisis. But insiders have pointed to a potential strategic error made by the bank: Unlike rivals JPMorgan Chase and Bank of America, Citigroup didn’t expand its U.S. deposits base with physical branches, giving those firms a distinct funding advantage.\n\nCitigroup shares have climbed 42% during Corbat’s tenure starting in October 2012, compared with the 141% increase of JPMorgan shares in that period. Citigroup’s stock price was little changed after the announcement.\n\n» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision\n» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC\n» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic\n \nTurn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.\n \nConnect with CNBC News Online\nGet the latest news: http://www.cnbc.com/\nFollow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC\nFollow CNBC News on Facebook: https://cnb.cx/LikeCNBC\nFollow CNBC News on Twitter: https://cnb.cx/FollowCNBC\nFollow CNBC News on Instagram: https://cnb.cx/InstagramCNBC\n \nFor info on the best credit cards go to CNBC Select: \nhttps://www.cnbc.com/select/best-credit-cards/ \n\n#CNBC\n#CNBCTV

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