Jane Fraser Net Worth, Salary, Current Holdings, Family Info, and More

Jane Fraser, the first female CEO of Citigroup, is no stranger to the corporate limelight. She has a remarkable track record of leading a business through challenging times. She became the CEO of Citigroup in 2021 after holding various leadership positions at the bank for many years. 

Fraser is known for being accessible and friendly to her employees. She recently announced the biggest bank restructuring in 15 years, aiming to align the bank’s operations with its business units rather than its regions. She also sent a stern letter to her staff, warning them of the consequences of breaking the rules. 

Being one of the most successful CEOs in the world, you will be amazed to know about her net worth. But there is more to her than just her professional achievements. So, let’s explore some interesting facts about Jane Fraser’s personal and professional life.

Fast Facts About Jane Fraser

Who Is Jane Fraser? 

Jane Fraser is a British-born American banking executive born in 1967. She currently serves as the chief executive officer (CEO) of Citigroup, a position she has held since March 2021.

Born in St. Andrews, Scotland, Fraser spent her childhood in the town. Talking about Jane Fraser’s education, she earned her BA degree from Girton College, Cambridge, in 1985. 

After her graduation, she joined Goldman Sachs as a mergers and acquisitions analyst and worked there for two years, from 1988 to 1990. Later, she worked as a brokerage associate for a Madrid-based brokerage firm, Asesores Bursátiles, from 1990 to 1992. 

In 1992, she decided to complete her MBA from Harvard Business School. After that, she joined  McKinsey & Company, which was the first milestone in her professional journey. 

How Much is Jane Fraser’s Salary?

Citigroup CEO Jane Fraser gets a whopping $22,064,065 in compensation, which includes $1,500,000 in salary, $5,012,500 in bonus, $15,533,265 in stock, and $18,300 in other types of compensation. She counts among the top business executives and World’s highest paid CEOs.

How Rich is Jane Fraser?

According to the latest estimates, Jane Fraser’s net worth is around $12.76M. She holds about 109,665 shares of Citigroup Inc. Since joining Citigroup Inc. seven years ago, she has sold shares worth about $15.8M.

Jane Fraser’s Current Holdings

Jane Fraser Lifestyle

Regarding the lavish lifestyle, Jane Fraser’s house is worth $5.3 million, a Coral Gables property on the oceanfront. Property records show that Jane Fraser and her husband, Alberto Piedra, sold out their five-bedroom, five-and-a-half-bathroom home at 185 Los Pinos Court, which spans about 7,000 square feet. 

The house is located in a gated community on a quiet cul-de-sac. The listing says it has 112 feet of water frontage and a 69-foot private dock. The home was initially listed for $6.3 million in January and was later lowered to $5.8 million. Fraser and Piedra bought the Coral Gables home in 2015 for $6.1 million, according to public records.

Who is Jane Fraser’s Husband?

Jane is happily married and has two sons. Jane Fraser’s husband, Alberto Piedra, is a former banker from Cuba. She quit his job as a bank manager in Europe during the 2008 financial crisis to take care of their young children.

Jane Fraser’s sons are successful in their careers. Gordon Piedra works in the field of physics, and Cameron Piedra is a professional golfer. 

Jane Fraser Career Timeline & Current Position

Jane Fraser’s journey from a mergers and acquisitions analyst to the CEO of the World’s largest bank is no short of a roller coaster ride. She is one of the longest-associated employees of the company, having worked since 2004. Let’s take a look at her career growth and timeline.

McKinsey & Company (1994-2004)

In 1994, Fraser joined McKinsey & Company in 1994, where she focused on global strategy and financial services. She spent six years in New York and four years in London, working part-time while raising her young children.

She published articles on globalization and co-wrote the 1999 book Race for the World: Strategies to Build a Great Global Firm with three other McKinsey colleagues. 

Citigroup executive Michael Klein was impressed by her speech about the book and persuaded Fraser to join Citigroup in 2004 after several years of trying.

Citigroup

After leaving McKinsey & Company, Jane Fraser joined Citigroup’s investment and global banking division in July 2004 as Head of Client Strategy. She became Global Head of Strategy and Mergers and Acquisitions in October 2007, a role she held until May 2009. 

She was part of the executive team that had to deal with the financial crisis of 2007–2009, and she worked on restructuring the group, re-engineering its processes, selling off assets, and raising new capital. 

Fraser took over as CEO of Citi Private Bank in June 2009. In May 2013, she agreed to replace the retiring CEO of CitiMortgage, even though she knew it was a risky career move. She was promoted to CEO of US Consumer and Commercial Banking in March 2014 after Cecelia Stewart announced her retirement. In April 2015, she became CEO of Citigroup Latin America, overseeing operations in 24 countries. This promotion came after a reshuffling of Citigroup executives triggered by the retirement of Manuel Medina-Mora, CEO of Citigroup’s global consumer bank. 

In October 2019, Fraser was named President of Citigroup and Head of Global Consumer Banking (GCB), and was in charge of all of Citi’s Consumer businesses, including Retail Banking and Wealth Management, Credit Cards, Mortgage, and Operations and Technology in 19 markets. 

In September 2020, Citigroup announced that its CEO, Michael Corbat, would retire in February 2021. Fraser was chosen to succeed Corbat, becoming the first woman to lead a major Wall Street Investment Bank and the third-largest bank in the U.S.

Jane Fraser’s Current Position

Jane Fraser’s Achievements

• Ranked 48 on Fortune’s list of the 51 Most Powerful Women in Business in 2014.
• Ranked 41 on Fortune’s list of the 51 Most Powerful Women in Business in 2015.
• Named Number 1 Woman to Watch in 2014 and 2015 by American Banker.

Jane Fraser’s Social Media Handles

Jane is an active social media influencer and frequently connects with her followers through posts and videos. Besides Jane Fraser’s LinkedIn account, she isn’t active on any other social media platform. 

Surprising Facts About Jane Fraser

• Jane Fraser was recognized by CNBC as one of the Rebels, Icons, and Leaders in 2014. 
• She also made it to Fortune’s list of Most Powerful Women in 2016. 
• She has been a role model for women in banking, as she was one of the 25 Women to Watch by U.S. Bankers in 2009. 
• She co-chairs the Citi Women Affinity Group, which promotes gender diversity and inclusion. 
• She is grateful to her husband for his love and support, as he gave up his career to take care of their family. 
• She also showed her leadership skills during the COVID-19 pandemic, as she headed the Citigroup Covid-19 Response Group Team for North America.

FAQs

What Is Jane Fraser Age?

Jane Fraser is 57 years old as of 2024. She was born in 1967 in St Andrews, Scotland. 

Who is the CEO of Citi Cards?

The CEO of Citi Cards is Anand Selvakesari, who is also the Chief Operating Officer of Citi and the Head of Personal Banking and Wealth Management. 

Who is Jane Fraser’s Husband?

Jane Fraser’s husband is Alberto Piedra, a former banker and a native of Cuba. She left his job in 2008 to take care of their two sons. 

How much does the CEO of Citi Earn?

The CEO of Citi earned $24.5 million in 2022, which included a $1.5 million salary, a $3.45 million cash bonus, and $19.6 million in stock awards. She was the only major US bank CEO to receive a pay increase that year. 

Does Jane Fraser have kids?

Jane Fraser has two sons, Gordon and Cameron. Gordon is a physicist, and Cameron is a professional golfer.