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Fraser is currently head of Citi’s global consumer banking<\/a> division, a major part of the bank that includes checking and savings accounts but also Citi’s massive credit card business<\/a>.<\/p>\n She’s been with Citi for 16 years.<\/p>\n Fraser will be the first woman to lead one of Wall Street’s big six banks. JPMorgan Chase<\/a>‘s Jamie Dimon<\/a> has had women as his second-in-command for years, but shows no signs of stepping down from the CEO role.<\/p>\n Corbat led Citigroup for eight years, rebuilding the company after it nearly collapsed during the Great Recession and 2008 financial crisis.<\/p>\n The federal government had to step in to buy a stake in Citi to keep it afloat, and the New York bank had some of the most toxic assets of all the major banks during this time.<\/p>\n Corbat turned Citi into a much smaller and stable entity, focusing on its credit card businesses and its international banking franchise. <\/p>\n<\/div>\n