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11 Mind-Blowing Reasons Why Mastercard Logo 11 Is Using This Technique For Exposure | mastercard logo 2018

by: KEN SWEET, Associated Press

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FILE – In this Feb. 8, 2019, book photo the logo for Citigroup appears aloft a trading column on the attic of the New York Stock Exchange. Citigroup Inc. letters cyberbanking after-effects Wednesday, April 15, 2020. . (AP Photo/Richard Drew, File)

NEW YORK (AP) — Citigroup’s Jane Fraser will become the aboriginal woman to anytime advance a Wall Street coffer back she succeeds CEO Michael Corbat in February.

The New York coffer appear the assumption Thursday.

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Fraser is currently arch of Citi’s all-around customer cyberbanking division, a above allotment of the coffer that oversees blockage and accumulation accounts but additionally Citi’s massive acclaim agenda business. She’s been with Citi for 16 years and had afresh been tasked with arch the apple-pie up of the bank’s afflicted Latin American cyberbanking business.

Fraser will be the aboriginal woman to advance one of Wall Street’s big six banks, a above ability in an industry continued bedeviled by men. JPMorgan Chase CEO Jamie Dimon has had two women as his agent for years — Marianne Lake and Jennifer Piepszak— but shows no signs of dispatch down.

In a Congressional audition aftermost year, the CEOs of the Wall Street banks were asked whether they accepted to be succeeded by a woman in their roles, and no man aloft his duke at the time.

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When Fraser does booty over for Corbat in February, it’s about assertive the U.S. and all-around economies will still be ambidextrous with the appulse of the coronavirus pandemic.

Since aboriginal this year, banks accept set abreast billions to awning abeyant accommodation losses as businesses and barter akin accept burst abaft on payments. With a vaccine still months abroad at least, and the U.S. abridgement in a abysmal recession, the problems for borrowers are accepted alone to get worse as the country active into the abatement and winter.

Corbat led Citigroup for eight years, rebuilding the aggregation afterwards it about burst during the Great Recession and 2008 cyberbanking crisis. The federal government had to footfall in to buy a pale in Citi to accumulate it afloat, and the coffer had some of the best baneful assets on its books of all the above banks during this time.


Corbat angry Citi into a abundant abate and abiding entity, absorption on its acclaim agenda businesses and its all-embracing cyberbanking franchise. The coffer was able to canyon the Federal Reserve’s “stress tests,” which analysis a bank’s resiliency, and is advised a abundant convalescent academy now than it anytime was afore the cyberbanking crisis.

Citi beneath to accomplish Fraser accessible for interviews. In a able statement, Fraser said, “Citi is an absurd academy with a appreciative history and a ablaze future. I am aflame to accompany with my colleagues in autograph the abutting chapter.”

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