Jane Fraser
The Operator
Execution, delivery and performance, gets the hard thing done.
Jane Fraser is The Operator because she took Citigroup's chief executive role at exactly the moment it demanded unflinching execution of a complex, multi-year transformation. Her restructuring of Citi, divesting businesses, simplifying the organisational model, and confronting regulatory expectations head-on, marks a leader who measures success in concrete outcomes rather than vision statements.
“So when I was announced the CEO, I knew it was going to happen. I called up my duke son. And didn't pick up as usual. And I said, please call me. And I get a text back. No, no, didn't pick up. He sent a mess about, I'm busy. I said, no, no, please, I've got some news. Could you pick up? And then he's like, mum, I mean, I'm on Zoom calls.”
“Well, first of all, why didn't I go back into banking at that time? And I've been in banking in the 80s where there weren't many women in banking, unlike the business school. They wore suits with a very big shawler pads, and they were more scary than the men. You remember the era.”
“I became a mum at the same time as I became a partner and I worked part time all the way through my partnership And McKinsey was fantastic about that because I was able to spend time with the kids before they went into school. But then when they were then at school, that I felt like, okay, I can go back full-time working again.”
“I don't think they need to go out right now because the banking system is pretty sound and we're talking about a few banks. We heard it from the chairman Pal today. This is not something that is spread across the entire banking system. This isn't like it was last time. This is not a credit crisis.”
The David Rubenstein Show: “Jane Fraser”
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