Jane Fraser

Tasked with cleaning up the U.S.’s third-largest bank, Jane Fraser has been leading Citigroup’s revamp since she took the reins as CEO in 2021, focusing on slimming operations and modernizing tech. Though the multiyear strategy has a ways to go, Fraser—still Wall Street’s sole female CEO and a 20-year veteran at the bank—is making progress. The past few months have seen major wins including completing the spinoff of Citi’s Mexican consumer bank in December, a crucial piece of Fraser’s simplification efforts. Revenue rose across all five of the bank’s main business lines in the fourth quarter of 2024, and net income rose from $9.2 billion in 2023 to $12.7 billion in 2024. Those stronger-than-expected results enabled a $20 billion stock-buyback plan in early 2025 that sent shares soaring to their highest level in more than three years. Fraser’s double-digit-percentage pay bump earlier this year suggests that other decision-makers are happy with where she’s leading the firm thus far.