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.
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.
FORTUNE -- Job-hopping can be a path to promotions and big pay for many executives, but the global edition of the Fortune Most Powerful Women list, released today, suggests that there is still value in corporate loyalty. Ten of the 50 executives on the list MOREPatricia Sellers - Feb 6, 2014 11:46 AM ET
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.
Aspect Ventures is the name. And the most interesting aspect of this startup—besides the cofounders' focus on mobile, which says a lot about where Silicon Valley MOREPatricia Sellers - Feb 5, 2014 9:00 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
Facebook exec David Fischer and his dad, Fed choice Stanley Fischer, are both well-suited to work for powerful women bosses.
FORTUNE -- Sheryl Sandberg must be the most politically connected executive in Silicon Valley.
There she was in Washington, D.C., last month when President Obama hosted a powwow with tech honchos at the White House.
Fifteen years earlier, the Facebook (FB) COO served as chief of staff to Larry Summers when he was MOREPatricia Sellers - Jan 13, 2014 11:38 AM ET
In copping the top jobs at the Fed and GM, Janet Yellen and Mary Barra mark a milestone--and show how more women leaders might get ahead.
FORTUNE -- For powerful women, this is a moment.
As Mary Barra prepares to take the wheel at General Motors (GM) next Wednesday--and no woman has never led a corporation that big--Janet Yellen moves in as the new chairman of the Federal Reserve. Meanwhile, the news MOREPatricia Sellers - Jan 10, 2014 1:23 PM ET
What do Warren Buffett, Amazon's late CFO, and employee perks at the Best Companies to Work For have in common? These top stories relate to living wisely and well.
FORTUNE -- I'm not sure what it means that the three most popular stories on Fortune.com in 2013 were, in order, "11 top perks from Best Companies," "Former Amazon star killed in bike accident" and "Warren Buffett is bullish on…women."
But I like that MOREPatricia Sellers - Dec 31, 2013 9:35 AM ET
Amy Schulman thought she was getting her dream job at Pfizer. Now she's out the door at the world's largest drug company.
FORTUNE -- Amy Schulman, one of Pfizer's (PFE) star execs and No. 43 on the Fortune Most Powerful Women list, is out of a job.
And the irony is that her dismissal comes just as she expected to vault into a much bigger one.
When I had lunch with Schulman, 53, MOREPatricia Sellers - Dec 17, 2013 5:59 PM ET
The best type of innovation is disruptive innovation. Who better to teach it than a star Google exec who ran the Pentagon's R&D arm?
FORTUNE -- Disruptive innovation is the kind that unhinges old ways of operating, juices competition and creates new growth.
One of the world's leading experts on the subject is Regina Dugan, Motorola Mobility's SVP in charge of Advanced Technology and Projects, a skunkworks-inspired unit devoted to delivering breakthrough innovations. MOREPatricia Sellers - Dec 17, 2013 8:51 AM ET
The news at General Motors and Twitter proves that women are gaining traction on boards. Demand for tech expertise will change the boardroom ratios in the Fortune 500.
FORTUNE -- While the CEO appointment of Mary Barra at General Motors (GM) is historic (no other woman on earth has ever led a business so big), here's another interesting fact that went largely unnoticed: When Barra joins the GM board on January 15, MOREPatricia Sellers - Dec 13, 2013 11:48 AM ET
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