Magazine article American Banker

Citi's Jane Fraser: The No. 1 Woman to Watch for 2014

Magazine article American Banker

Citi's Jane Fraser: The No. 1 Woman to Watch for 2014

Article excerpt

Byline: Alan Kline

When Jane Fraser was invited last year to play in a golf outing with Tiger Woods, her immediate reaction was one she might have had early in her banking career when confronted with a new challenge: terror.

Running three major business lines for one of the world's largest banks while raising a family leaves little time for golf, and Fraser, who has a handicap of 25, feared she might embarrass herself in front of the well-known golfer -- not to mention a nationally televised audience.

That fear dissipated, though, as Fraser recalled how readily she now embraces new challenges in her job. Her then-12-year-old son also helped to ease the tension when he reminded Fraser that all eyes would be on Woods, not her.

Scheduling conflicts ultimately prevented her from joining Woods that day, but Fraser tells this story to illustrate her evolution as a banker and leader and to reiterate the advice she often gives to rising stars in her field. "I used to believe that I had to be 120% qualified before I did anything," she says. The reality is, "you don't even have to be 100% qualified to take on a new role."

Not much could have fully prepared Fraser for her current role. Formerly the head of Citi's private bank, Fraser was still getting her arms around the mortgage business she took over in mid-2013 when she was approached earlier this year about replacing Cece Stewart as CEO of consumer and commercial banking. …

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