Jane Fraser shatters glass ceiling and Wall Street women ask who’s next

Jacki Zehner, the first female trader to make partner inside Goldman Sachs Group Inc., was sitting at her kitchen table in Utah on Thursday morning when her husband told her he had good news: “Wall Street has their first female CEO.”

She was happy to hear that Jane Fraser will run Citigroup Inc.—mostly.

“To have a female at the top of a large financial institution is a step forward, but it’s a baby step,” she said in an interview Thursday morning. “Acknowledging that it’s never been true before, and it’s true now, is something to celebrate. That being said, it doesn’t mean that there’s systematic change. It represents one female.”


Rachel Robasciotti, founder of social-justice investing firm Robasciotti & Philipson

“I’m delighted—and, at the same time, there is tremendous work that remains to be done across Wall Street in terms of equity and inclusion,” she said. The fact that Fraser will be the only top female banking chief, she added, is “shocking.”


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