Jane Fraser, chair of the board and chief executive officer of Citi, was appointed by the New York Fed’s Board of Directors to serve on the Federal Reserve Board of Governors’ Federal Advisory Council for a one-year term that began in January, according to a Mar. 31 announcement.
The appointment is significant as the Federal Advisory Council consists of one representative from each of the 12 Federal Reserve districts who consult with and advise the Board on matters within its jurisdiction. The council meets four times a year in Washington, D.C., to discuss economic and banking developments and make recommendations on activities across the Federal Reserve System.
Fraser has held several leadership roles at Citi since joining in 2004, including president of Citi and CEO of its Global Consumer Bank before becoming CEO in 2021. Her previous experience includes serving as global head of strategy and M&A, CEO of Citi’s Private Bank, and CEO for Citigroup Latin America. She also worked as a partner at McKinsey & Company prior to her time at Citi.
The Federal Reserve Bank of New York provides thought leadership on community economic issues according to its official website. It operates as part of the broader Federal Reserve System according to its official website and works toward bolstering the U.S. economy through efforts such as fostering job creation, maintaining stable prices, driving economic growth, delivering financial services, overseeing institutions within its district, and providing insights on economic matters according to its official website.
John C. Williams has served as president and chief executive officer at the Federal Reserve Bank of New York since June 2018 according to its official website. The bank covers areas including New York State, northern New Jersey, southwestern Connecticut, Puerto Rico and the U.S. Virgin Islands according to its official website, playing an important role in executing monetary policy aimed at supporting stability and growth in the economy according to its official website.
For more information about members or activities related to this council appointment or about ongoing initiatives by Fraser or other representatives from various districts across America’s banking sector landscape can be found online.
