CONTACT: Brigid Richelieu
(202) 660-2569
brichelieu@fsforum.com
State Street and Citigroup CEOs Elected
Washington, D.C. – The Financial Services Forum today announced that State Street Chairman and CEO Ron O’Hanley has been elected to serve as the chair of its board. Citigroup CEO Jane Fraser has been elected to serve as vice chair.
O’Hanley replaces Goldman Sachs Chairman and CEO David Solomon, who served as chair of the Forum for two years. Fraser replaces O’Hanley, who served as vice chair.
“The Forum is an important voice in Washington for our nation’s largest banks,” O’Hanley said. “I thank David for his outstanding work guiding our board, and I look forward to leading the organization at a critical moment for our country. The institutions that I and my colleagues lead have shown that they are a bulwark for the economy even in the midst of many challenges, most notably a global pandemic. The Forum will continue to prioritize working with policymakers to foster a strong financial system that supports a vibrant, healthy economy for all Americans.”
“I am proud to join Ron in leading the Forum as we work to promote policies that maintain a strong, safe and sound banking sector, which is vital to the health of households, large and small businesses, and to the competitiveness of the U.S. economy,” Fraser said.
Said Financial Services Forum President and CEO Kevin Fromer: “The Forum is a critical resource in Washington. As the United States navigates the current environment of economic uncertainty, the Forum and its members will continue to provide important leadership and promote policies that support a strong and resilient economy, efficient and effective markets, and a safe, competitive U.S. financial system.”
O’Hanley became CEO of State Street in January 2019. He was previously president and chief operating officer of State Street Corporation, and president and chief executive officer of State Street Global Advisors, the investment management arm of State Street Corporation. He previously worked for Fidelity Investments, BNY Mellon Asset Management and McKinsey & Company, Inc. O’Hanley serves on the boards of Unum Corp., Beth Israel Lahey Health, ABL Space Systems, The Boston Foundation, The Ireland Funds, IYRS School of Technology and Trades, Syracuse University, and WBUR.
Fraser became CEO of Citigroup in March 2021. Before becoming CEO, she was President of Citi and CEO of the Global Consumer Bank. She joined Citi in 2004 in the Corporate and Investment Banking division, served as Citi’s Global Head of Strategy and Mergers & Acquisitions from 2007 to 2009, as the CEO of Citi’s Global Private Bank from 2009 to 2013, as the CEO of Citi Mortgage from 2013 to 2014, as the CEO of the U.S. Consumer and Commercial Bank and Global Mortgages from 2014 to 2015, and as the CEO of Citigroup Latin America from 2015 to 2019. She previously worked at McKinsey & Company, Goldman Sachs, and Asesores Bursátiles. Fraser serves on a number of boards such as the Business Roundtable, Partnership for New York City, Stanford Global Advisory Board, Harvard Business School’s Board of Dean’s Advisors, the Economic Club of New York, and the Council on Foreign Relations.
The Financial Services Forum’s Board of Directors is comprised of the chief executive officers of the eight largest and most diversified financial institutions headquartered in the United States.
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The Financial Services Forum is an economic policy and advocacy organization whose members are the chief executive officers of the eight largest and most diversified financial institutions headquartered in the United States. Forum member institutions are a leading source of lending and investment in the United States and serve millions of consumers, businesses, investors, and communities throughout the country. The Forum promotes policies that support savings and investment, financial inclusion, deep and liquid capital markets, a competitive global marketplace, and a sound financial system.