It’s been an exciting end of the summer in terms of leadership announcements. Citigroup just said that Jane Fraser is its next CEO, making her the first woman to lead a large Wall Street bank.
“The glass ceiling in banking may be finally cracking,” said CNBC’s Jim Cramer when the news broke Sept. 10. “This is revolutionary, and we can’t deny it.” Fraser will take the reins from Michael Corbat in February.
This development came about a week after Jean Hynes was named the next CEO of Wellington Management, one of the largest independent investment firms in the world with more than $1 trillion in assets under management. She will take over from Brendan Swords when he retires on June 30, 2021. After assuming her new role, Hynes is set to continue leading the nearly $50 billion Vanguard Health Care Fund, which she has managed since 2008.
These recent CEO appointments are highly inspiring for women in financial services, while the stories of advisors helping clients during the coronavirus pandemic — featured in this month’s cover story — spotlight the tremendously positive impact all advisors can have on clients.