The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookiesbefore using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

A plan in Asia for Citi’s Fraser

Citi’s new CEO Jane Fraser set out her vision statement this week. It was solid stuff, but Euromoney suggests some bolder moves for the US bank in Asia, including a secondary local listing, and the creation of a new position of co-CEO, to be installed in a region vital to the bank’s future.

Citigroup Inc. Latin America CEO Jane Fraser Interview
Photo: Bloomberg via Getty Images

The future, Jane Fraser said on Monday, is “already here”. It is – and it is Asia.

In her incoming message, Citi’s new CEO talked up the need to adapt to a rapidly evolving world and to transition to a model that unlocks long-term value.

She went long on ESG and sustainability, dotted her script with values-based messages and committed the US bank to hitting net-zero emissions by 2050.

But was a far bolder mission statement begging to be made? The first woman to run a big Wall Street bank could have put Asia at the heart of her speech.

Fraser, who has been with the bank since 2004, will be well aware how important the region is to the bank. Citi generated revenues of $15.8 billion in Asia in 2020.

That is 21% of global revenues, making it the largest region outside North America.

The diversity of its pan-Asia strength is striking

The diversity of its pan-Asia strength is striking. It is present in 18 markets, yet no one country accounts for more than 15% of region-wide revenues.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?