The New York Fed has named Citigroup Inc.’s chief executive, Jane Fraser, to its Federal Advisory Council, a statutory body that advises the Board of Governors on banking and economic matters.
The council is composed of one representative from each of the Fed’s twelve districts and meets four times a year. Members serve three one‑year terms and are selected by the district’s Reserve Bank to provide industry insight and feedback on policy and regulation.
Fraser’s appointment gives Citi’s CEO a direct channel to influence discussions on monetary policy, financial stability and regulatory matters that affect the bank’s global operations. The role is especially significant because the council’s advice can shape policy decisions that impact capital requirements, liquidity standards and cross‑border banking activities.
Fraser joined Citi in 2004 and became CEO in March 2021, becoming the first woman to lead a major U.S. bank. Prior to Citi, she was a partner at McKinsey & Company and holds an MBA from Harvard Business School and an MA in economics from Cambridge University.
The appointment underscores the Fed’s intent to incorporate diverse perspectives from the banking sector. For Citi, Fraser’s presence on the council signals a heightened ability to contribute to policy discussions and to advocate for the bank’s interests in a rapidly evolving regulatory environment.
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