It’s been three years since Jane Fraser unveiled her strategic vision for Citi and, during that time, the CEO has come under significant criticism for her overhaul of the country’s third biggest bank. But a Bank of America analyst thinks Fraser is giving the bank a shot at becoming competitive, according to a June 26 research note.
With $2.5 trillion in total assets, Citi is one of the nation’s largest banks, employing around 229,000 full-time workers as of last year. Fraser took over as Citi CEO in March 2021, and is widely considered the most powerful woman on Wall Street. (This year, Fraser ranked as the third most powerful woman in business, according to Fortune’s Most Powerful Women’s list.) Citi’s stock has gained about 22% since she joined the bank.
