FORTUNE -- In what has long been a minefield for senior women -- the big banks -- three female executives burnished their power this week.
In a senior management shuffle at Citigroup (C), CEO Mike Corbat told employees yesterday that Jane Fraser is the new CEO of U.S. Consumer & Commercial Banking. This is a huge job that encompasses retail/small business/commercial banking and wealth management, plus Citi's mortgage business globally.
Fraser is certainly one of Citi's executives to watch. A native of Edinburgh, Scotland, she arrived at Citi 10 years ago with a successful decade at McKinsey on her resume, a Harvard MBA, and a degree in economics from Cambridge. She headed strategy and M&A for Citi and then the Private Bank, which she grew. Viewed as a straight-talking, strategic problem-solver, Fraser, at 46, has plenty of runway to advance further.
Also moving up: Barbara DeSoer, who goes from COO to CEO of Citibank N.A. This job puts her in charge of corporate governance and franchise management for Citibank branches and subsidiaries in 101 countries. DeSoer, 61, was on Fortune's Most Powerful Women list when she was at Bank of America (BAC) and considered to be a possible contender for CEO someday. But in 2012, she left BofA after taking on that bank's toughest assignment -- heading the mortgage business post-acquisition of subprime lender Countrywide Financial -- and facing criticisms of foreclosure practices. DeSoer took a year off and joined Citi last fall.
Fraser and Desoer are the only women on Citi's 24-person operating committee.
Meanwhile, U.S. Consumer and Commercial Banking president Cece Stewart, a high-profile recruit by former Citi CEO Vikram Pandit, is leaving. Her rise from bank clerk to head of retail and small business banking at Wachovia (WFC) earned her a spot on Fortune's MPW list in 2007. But after she moved to Morgan Stanley (MS) in 2009 and then Citi in 2011, her career seemed to stall. Stewart, 55, is expected to focus on her true passion, her horses in North Carolina, as well as board work.
And as Citi's rival, J.P. Morgan Chase (JPM), revealed at its investor day this week that it's making broad cuts while expanding in asset management, it's worth noting that the CEO of that unit, in charge of $1.6 trillion in assets, is Mary Callahan Erdoes, No. 31 on our global MPW list. Erdoes' star is shining bright these days.
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GM CEO Mary Barra and Google exec Susan Wojcicki, newly in charge of YouTube, show that you can reach the top by staying in one place.
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A new venture by two prominent startup investors says much about where Silicon Valley money is heading—and much about the void they leave in their wake.
FORTUNE -- Silicon Valley venture capitalists Jennifer Fonstad and Theresia Gouw are leaving their firms and going into business together.
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This adventurer's weakness could have led to disaster for her and her daredevil team. An extraordinary tale of survival and success.
FORTUNE -- Alison Levine grew up like the a lot of us, did well in school, got an MBA at Duke, worked for Goldman Sachs (GS), tried politics (as deputy finance director in Arnold Schwarzenegger's California gubernatorial campaign) and never felt satisfied. So she started climbing mountains, with inordinate determination. MOREPatricia Sellers - Jan 31, 2014 5:26 AM ET
Weathering storms may make you a better boss. One company's silver linings playbook.
FORTUNE -- Neither wind nor rain nor Arctic blast, now socking the eastern U.S. for the second time this winter, keeps good companies down. If a company is great at its core, it actually strengthens when tested by Mother Nature. One example is Guardian Life Insurance Company, which overhauled its workplace culture thanks to lessons learned in the MOREPatricia Sellers - Jan 22, 2014 8:23 AM ET
From Jacqueline Bisset to Bono to Jennifer Lawrence, the Golden Globe winners delivered flubs, flaws and performances that business executives can learn from.
Guest Post by Mary Civiello
FORTUNE -- The Golden Globe Awards showed us that co-hosts Tina Fey and Amy Poehler are not just one-hit wonders, that 12 Years a Slave and American Hustle are best bets for Oscars, and that too many star performers cannot, for the life of MOREPatricia Sellers - Jan 13, 2014 3:48 PM ET
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