Jane Fraser, chair of the board and chief executive officer of Citi, was appointed to the Federal Reserve Board of Governors’ Federal Advisory Council for a one-year term that began in January, according to a Mar. 31 announcement from the New York Fed’s Board of Directors.
The appointment places Fraser as the representative for the banking industry from the Second Federal Reserve District. The council consists of one member from each of the twelve districts who consult with and advise the Federal Reserve Board on issues within its jurisdiction. Members typically meet four times per year in Washington, D.C., to discuss economic and banking developments and provide recommendations on activities within the Federal Reserve System.
At Citi, Fraser has held various leadership roles across both consumer and institutional businesses since joining in 2004. She became CEO in 2021 after serving as president of Citi and CEO of its Global Consumer Bank. Her previous positions include global head of strategy and M&A, CEO of Citi’s Private Bank, and CEO for Citigroup Latin America. Prior to her time at Citi, she was a partner at McKinsey & Company. Fraser holds an M.B.A. from Harvard Business School and an M.A. in economics from Cambridge University.
The Federal Reserve Bank of New York operates as part of the broader Federal Reserve System according to its official website. The bank covers New York State, northern New Jersey, southwestern Connecticut, Puerto Rico, and the U.S. Virgin Islands according to its official website. It plays a role in executing monetary policy aimed at supporting economic stability and growth according to its official website, while also working on efforts such as fostering job creation, maintaining stable prices, delivering financial services, overseeing institutions within its district, providing insights on economic matters according to its official website, and offering thought leadership on community economic issues according to its official website.
John C. Williams has served as president and chief executive officer at the Federal Reserve Bank of New York since June 2018 according to its official website.
For more information about members or details regarding the council’s work this year readers can visit this webpage.
