It was both a humane reaction to a mass trauma and a calculated strategic decision. Among American banks, that kind of flexibility was unheard of. Then came the real shock: When Citi ultimately returns to the office, most roles will be designated as “hybrid” - with three days in office and up to two at home. Veteran bankers must have thought they were in the Twilight Zone. Fraser implemented “Zoom-free Fridays” and urged staff to avoid scheduling calls outside traditional work hours. What followed was a reset plan that included the kinds of work-life balance measures you don’t often see on Wall Street. She also became the first woman to lead a top American bank.
Jane Fraser, pictured at the Milken Institute Global Conference in California in 2019, inherited a difficult job when she took over at Citi.
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