Women of Wall Street Ask 'Who's Next' After Citi Picks Jane Fraser as CEO
Executive recruiters discuss how the pandemic could reshape CFO searches and hiring in the months and years ahead.
Lananh Nguyen, Max Abelson
The Bloomberg article, “Women of Wall Street Ask 'Who's Next' After Citi Picks Jane Fraser as CEO,” quoted Russell Reynolds Associates Consultant Mary-Caroline Tillman on Jane Fraser’s appointment to CEO of Citigroup. The article is excerpted below.
As congratulations rolled in across Wall Street for its newest boss, diversity advocates said the financial industry has a lot more to do to reach gender equality and pay equity. It's taken this long to appoint the first, and only, female chief executive officer at one of the biggest U.S. banks, and efforts to get more women into senior management have been slow to boost representation.
The top groups of influential operating teams that oversee the six biggest U.S. banks are dominated by men. Women make up a third or less of those groups inside all of them except JPMorgan Chase & Co., where the gender split is even. In total, there are two men for every woman who sit in those powerful Wall Street spots.
Here’s what other leaders said about Fraser’s appointment:
Mary-Caroline Tillman, head of financial services at Russell Reynolds Associates
“Jane is an outstanding executive in terms of her background and capabilities with a strong reputation for innovative, inclusive and sustainable leadership. She has earned the appointment as CEO of Citigroup and is an inspiration for other female executives to know that merit is recognized in leadership appointments. This is a special day and a milestone.”
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