BLOOMBERG BUSINESS: Citi’s Female CEO Rose as Bank Faced Failings on Gender Equality

By Jennifer Surane, September 21, 2020

Along Citigroup Inc.’s path to naming the first female chief executive officer on Wall Street, the bank had to confront some grim truths.

For starters, the bank that Jane Fraser takes over in February pays women just 73 cents for every $1 men get, an even wider gap than the national average. And short of 40% of Citigroup’s managers are female.

Those figures show that Fraser’s historic elevation is far from a capstone. But the bank has spent years getting to this point, and a willingness to publicly face its shortcomings has helped it outpace rivals in many key measures of progress on Wall Street’s slow road to gender equality.

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